Weiss Ratings Reaffirms "Sell (E+)" Rating for SurgePays (NASDAQ:SURG)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for SurgePays (NASDAQ:SURG) following a recent research report.
• Despite the negative rating, another analyst upgraded SurgePays from "Sell" to "Hold," and the average price target for the stock is currently $9.50.
• In its recent earnings report, SurgePays reported a loss of ($0.36) EPS, missing expectations and showing a negative net margin of 133.85%.

SurgePays (NASDAQ:SURG - Get Free Report)'s stock had its "sell (e+)" rating reiterated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

SURG has been the subject of a number of other reports. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Ascendiant Capital Markets raised their price objective on shares of SurgePays from $9.00 to $9.50 and gave the stock a "buy" rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $9.50.

SurgePays Price Performance

Shares of NASDAQ SURG opened at $2.83 on Wednesday. The firm has a 50-day simple moving average of $2.74 and a 200-day simple moving average of $2.76. The stock has a market capitalization of $57.82 million, a price-to-earnings ratio of -1.14 and a beta of 0.43. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 101.87. SurgePays has a 52 week low of $1.05 and a 52 week high of $3.47.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its 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). The business had revenue of $11.52 million during the quarter, compared to analyst estimates of $16.14 million. SurgePays had a negative net margin of 133.85% and a negative return on equity of 333.87%. SurgePays has set its FY 2025 guidance at EPS. On average, equities analysts predict that SurgePays will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SURG. Jones Financial Companies Lllp boosted its stake in SurgePays by 34,091.3% during the first quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider's stock worth $106,000 after buying an additional 51,137 shares during the period. XTX Topco Ltd purchased a new position in SurgePays during the second quarter worth about $125,000. Ethos Financial Group LLC purchased a new position in SurgePays during the first quarter worth about $57,000. Cetera Investment Advisers boosted its stake in SurgePays by 61.0% during the second quarter. Cetera Investment Advisers now owns 45,400 shares of the medical equipment provider's stock worth $141,000 after buying an additional 17,200 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in SurgePays during the first quarter worth about $35,000. Hedge funds and other institutional investors own 6.94% of the company's stock.

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.

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