SurgePays (NASDAQ:SURG) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of SurgePays (NASDAQ:SURG) from a hold rating to a sell rating in a research note released on Saturday.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of SurgePays in a research report on Wednesday, October 8th. Ascendiant Capital Markets lifted their price target on SurgePays from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.50.

SurgePays Price Performance

Shares of NASDAQ:SURG opened at $2.41 on Friday. The company has a market cap of $49.24 million, a price-to-earnings ratio of -0.97 and a beta of 0.42. 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 firm has a 50 day simple moving average of $2.78 and a 200 day simple moving average of $2.83. SurgePays has a one year low of $1.05 and a one year high of $3.47.

SurgePays (NASDAQ:SURG) last posted its 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). The company had revenue of $11.52 million for the quarter, compared to the consensus estimate of $16.14 million. SurgePays had a negative return on equity of 333.87% and a negative net margin of 133.85%. SurgePays has set its FY 2025 guidance at EPS. Research analysts predict that SurgePays will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SURG. D.A. Davidson & CO. acquired a new position in SurgePays during the 1st quarter worth about $25,000. Goldman Sachs Group Inc. bought a new position in shares of SurgePays during the first quarter worth about $28,000. Baader Bank Aktiengesellschaft bought a new position in shares of SurgePays during the first quarter worth about $35,000. Gerber LLC acquired a new position in shares of SurgePays in the third quarter worth approximately $38,000. Finally, Jane Street Group LLC bought a new stake in SurgePays in the second quarter valued at approximately $42,000. 6.94% of the stock is owned by institutional investors.

SurgePays Company 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.