SurgePays, Inc. (NASDAQ:SURG) Short Interest Down 12.7% in February

SurgePays, Inc. (NASDAQ:SURG) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 365,800 shares, a decline of 12.7% from the January 31st total of 419,000 shares. Based on an average daily volume of 505,300 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.6% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets reduced their price objective on SurgePays from $9.00 to $8.50 and set a “buy” rating for the company in a report on Monday, December 16th.

SurgePays Trading Up 7.0 %

Shares of SurgePays stock opened at $1.37 on Friday. The stock has a market capitalization of $27.62 million, a P/E ratio of -1.21 and a beta of 1.03. SurgePays has a 52-week low of $1.05 and a 52-week high of $7.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. The stock’s 50-day simple moving average is $1.50 and its 200 day simple moving average is $1.65.

Institutional Trading of SurgePays

Several hedge funds and other institutional investors have recently modified their holdings of SURG. Jane Street Group LLC bought a new position in SurgePays in the 4th quarter worth approximately $54,000. XTX Topco Ltd bought a new position in shares of SurgePays in the fourth quarter worth $53,000. Northern Trust Corp grew its position in shares of SurgePays by 67.4% in the fourth quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 25,467 shares in the last quarter. Royce & Associates LP bought a new stake in shares of SurgePays during the 3rd quarter valued at $34,000. Finally, Truvestments Capital LLC lifted its holdings in SurgePays by 20.1% during the 4th quarter. Truvestments Capital LLC now owns 102,002 shares of the medical equipment provider’s stock worth $182,000 after purchasing an additional 17,056 shares in the last quarter. Institutional investors own 6.94% of the company’s stock.

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.