SurgePays Q3 EPS Reduced by Ascendiant Capital Markets

SurgePays, Inc. (NASDAQ:SURG) – Research analysts at Ascendiant Capital Markets lowered their Q3 2027 earnings estimates for SurgePays in a report released on Tuesday, June 9th. Ascendiant Capital Markets analyst E. Woo now anticipates that the medical equipment provider will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.07. Ascendiant Capital Markets has a “Buy” rating and a $3.50 price target on the stock. The consensus estimate for SurgePays’ current full-year earnings is ($0.44) per share. Ascendiant Capital Markets also issued estimates for SurgePays’ FY2027 earnings at $0.05 EPS.

SURG has been the topic of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SurgePays in a research note on Friday, May 22nd. Zacks Research downgraded shares of SurgePays from a “hold” rating to a “strong sell” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, SurgePays presently has a consensus rating of “Reduce” and an average price target of $3.50.

SurgePays Stock Performance

Shares of NASDAQ SURG opened at $0.45 on Friday. The firm’s 50 day moving average price is $0.59 and its 200-day moving average price is $1.06. The company has a market cap of $11.33 million, a PE ratio of -0.23 and a beta of 0.31. SurgePays has a 52-week low of $0.44 and a 52-week high of $3.45.

SurgePays (NASDAQ:SURG) last issued its earnings results on Wednesday, May 20th. The medical equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.32). The firm had revenue of $15.98 million during the quarter, compared to the consensus estimate of $15.50 million. SurgePays had a negative return on equity of 967.32% and a negative net margin of 64.91%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in shares of SurgePays during the first quarter valued at approximately $28,000. Jane Street Group LLC purchased a new position in shares of SurgePays during the second quarter valued at approximately $42,000. Cetera Investment Advisers raised its holdings in shares of SurgePays by 43.5% during the first quarter. Cetera Investment Advisers now owns 66,000 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 20,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of SurgePays during the fourth quarter valued at approximately $52,000. Finally, NewEdge Advisors LLC raised its holdings in shares of SurgePays by 46.2% during the second quarter. NewEdge Advisors LLC now owns 19,000 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 6,000 shares during the last quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.

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.