SurgePays, Inc. $SURG Shares Bought by James Investment Research Inc.

James Investment Research Inc. raised its holdings in SurgePays, Inc. (NASDAQ:SURG) by 46.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,000 shares of the medical equipment provider’s stock after acquiring an additional 6,000 shares during the period. James Investment Research Inc.’s holdings in SurgePays were worth $59,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SURG. D.A. Davidson & CO. acquired a new position in SurgePays in the 1st quarter valued at $25,000. Goldman Sachs Group Inc. acquired a new position in SurgePays in the 1st quarter valued at $28,000. Baader Bank Aktiengesellschaft acquired a new position in SurgePays in the 1st quarter valued at $35,000. Ethos Financial Group LLC acquired a new position in SurgePays in the 1st quarter valued at $57,000. Finally, Jones Financial Companies Lllp raised its holdings in SurgePays by 34,091.3% in the 1st quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 51,137 shares during the last quarter. 6.94% of the stock is currently owned by institutional investors and hedge funds.

SurgePays Stock Up 0.3%

Shares of SurgePays stock opened at $2.91 on Wednesday. The company has a fifty day moving average price of $2.77 and a 200 day moving average price of $2.83. The company has a current ratio of 1.11, a quick ratio of 0.84 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 stock has a market cap of $59.45 million, a price-to-earnings ratio of -1.17 and a beta of 0.43.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on SURG shares. Ascendiant Capital Markets upped their price objective on SurgePays from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wall Street Zen upgraded SurgePays from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SurgePays in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.50.

SurgePays Profile

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.