SurgePays, Inc. (NASDAQ:SURG) Short Interest Down 20.0% in May

SurgePays, Inc. (NASDAQ:SURG) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 816,200 shares, a decrease of 20.0% from the May 15th total of 1,020,000 shares. Based on an average daily trading volume, of 420,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 6.1% of the company’s stock are short sold.

SurgePays Stock Down 1.6 %

NASDAQ:SURG traded down $0.06 during trading hours on Friday, reaching $3.80. The company’s stock had a trading volume of 103,241 shares, compared to its average volume of 206,576. SurgePays has a one year low of $3.28 and a one year high of $9.23. The business’s 50-day moving average is $3.84 and its 200-day moving average is $5.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.26 and a quick ratio of 5.48. The company has a market cap of $73.76 million, a price-to-earnings ratio of 3.30, a price-to-earnings-growth ratio of 8.44 and a beta of 1.07.

SurgePays (NASDAQ:SURG) last issued its quarterly earnings data on Monday, May 13th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). SurgePays had a net margin of 12.93% and a return on equity of 55.35%. The company had revenue of $31.43 million for the quarter, compared to analyst estimates of $32.40 million. Equities research analysts predict that SurgePays will post 0.03 EPS for the current year.

Institutional Trading of SurgePays

Institutional investors and hedge funds have recently modified their holdings of the company. Oxford Asset Management LLP bought a new position in SurgePays in the 4th quarter worth $71,000. FNY Investment Advisers LLC bought a new position in shares of SurgePays in the fourth quarter worth about $95,000. Jump Financial LLC lifted its position in shares of SurgePays by 44.7% during the 4th quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 5,100 shares during the last quarter. Victory Capital Management Inc. bought a new stake in SurgePays during the 4th quarter valued at approximately $106,000. Finally, Privium Fund Management B.V. acquired a new stake in SurgePays in the 1st quarter valued at approximately $109,000. 6.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SURG. Ascendiant Capital Markets reduced their price objective on SurgePays from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, June 6th. Maxim Group downgraded SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th.

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.