SurgePays (NASDAQ:SURG) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen has upgraded SurgePays (NASDAQ:SURG) from a "sell" to a "hold" rating, reflecting a change in analyst sentiment towards the stock.
• Ascendiant Capital Markets also increased their price target on SurgePays from $8.75 to $9.00 while maintaining a "buy" rating.
• Despite recent upgrades, SurgePays reported a quarterly loss, missing earnings expectations with a net margin of -133.85% and revenue significantly below projections.

SurgePays (NASDAQ:SURG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Ascendiant Capital Markets upped their price objective on SurgePays from $8.75 to $9.00 and gave the company a "buy" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, SurgePays currently has an average rating of "Buy" and a consensus target price of $9.00.

SurgePays Stock Down 2.0%

SURG traded down $0.06 on Friday, reaching $2.74. The company's stock had a trading volume of 7,465 shares, compared to its average volume of 699,005. The stock has a market cap of $56.06 million, a price-to-earnings ratio of -1.10 and a beta of 0.43. SurgePays has a 1 year low of $1.05 and a 1 year high of $3.47. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.11 and a quick ratio of 0.84. The business's 50 day moving average is $2.84 and its 200 day moving average is $2.49.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The medical equipment provider reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.05). SurgePays had a negative net margin of 133.85% and a negative return on equity of 333.87%. The business had revenue of $11.52 million during the quarter, compared to analysts' expectations of $16.14 million. SurgePays has set its FY 2025 guidance at EPS. As a group, research analysts forecast that SurgePays will post -1.66 EPS for the current fiscal year.

Institutional Trading of SurgePays

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of SurgePays during the 4th quarter worth approximately $54,000. Northern Trust Corp raised its position in shares of SurgePays by 67.4% during the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider's stock worth $113,000 after purchasing an additional 25,467 shares during the period. Ethos Financial Group LLC acquired a new stake in SurgePays in the 1st quarter valued at approximately $57,000. Renaissance Technologies LLC increased its position in SurgePays by 43.6% in the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider's stock valued at $88,000 after acquiring an additional 15,000 shares during the period. Finally, Geode Capital Management LLC increased its position in SurgePays by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider's stock valued at $278,000 after acquiring an additional 8,097 shares during the period. 6.94% of the stock is currently owned by institutional investors and hedge funds.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.