Key Points
- Director David Allen May bought 38,422 shares at $1.60 each on Dec. 10, spending $61,475.20 and increasing his stake to 158,116 shares (a 32.1% rise).
- SurgePays reported a quarterly EPS of ($0.38), missing estimates by $0.21, and shows weak fundamentals including negative ROE, low liquidity ratios, a market cap of ~$35.6M, and a 12‑month price range of $1.05–$3.47.
- Analyst opinion is mixed with a consensus target of $9.50 (well above the current price) while institutional ownership remains low (~6.94%) despite recent purchases by firms like Vanguard and CIBC.
SurgePays, Inc. (NASDAQ:SURG - Get Free Report) Director David Allen May bought 38,422 shares of SurgePays stock in a transaction dated Wednesday, December 10th. The stock was purchased at an average price of $1.60 per share, with a total value of $61,475.20. Following the purchase, the director directly owned 158,116 shares in the company, valued at approximately $252,985.60. This trade represents a 32.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
SurgePays Stock Performance
NASDAQ SURG opened at $1.69 on Friday. The business's 50-day moving average price is $2.35 and its 200 day moving average price is $2.67. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 101.87. SurgePays, Inc. has a twelve month low of $1.05 and a twelve month high of $3.47. The company has a market capitalization of $35.56 million, a PE ratio of -0.77 and a beta of 0.44.
SurgePays (NASDAQ:SURG - Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The medical equipment provider reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.21). SurgePays had a negative return on equity of 967.32% and a negative net margin of 83.42%.The firm had revenue of $18.68 million for the quarter, compared to analysts' expectations of $18.12 million. On average, research analysts predict that SurgePays, Inc. will post -1.66 earnings per share for the current year.
Hedge Funds Weigh In On SurgePays
Hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC acquired a new position in shares of SurgePays in the third quarter worth approximately $211,000. CIBC Bancorp USA Inc. bought a new position in SurgePays during the 3rd quarter worth approximately $320,000. NewEdge Advisors LLC raised its holdings in SurgePays by 71.1% during the 3rd quarter. NewEdge Advisors LLC now owns 32,500 shares of the medical equipment provider's stock worth $91,000 after purchasing an additional 13,500 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of SurgePays by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 656,900 shares of the medical equipment provider's stock worth $1,846,000 after purchasing an additional 35,286 shares during the period. Finally, James Investment Research Inc. boosted its stake in shares of SurgePays by 71.1% in the 3rd quarter. James Investment Research Inc. now owns 32,500 shares of the medical equipment provider's stock valued at $91,000 after purchasing an additional 13,500 shares during the last quarter. Institutional investors and hedge funds own 6.94% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on SURG shares. Ascendiant Capital Markets raised their target price on SurgePays from $9.00 to $9.50 and gave the company a "buy" rating in a research note on Friday, October 3rd. Wall Street Zen upgraded shares of SurgePays from a "sell" rating to a "hold" rating in a research report on Sunday, November 16th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of SurgePays in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SurgePays presently has an average rating of "Hold" and a consensus target price of $9.50.
View Our Latest Stock Analysis on SURG
SurgePays Company Profile
(
Get Free Report)
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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