SurgePays (NASDAQ:SURG) Share Price Crosses Above Two Hundred Day Moving Average of $5.68

SurgePays, Inc. (NASDAQ:SURG – Get Rating) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.68 and traded as high as $6.08. SurgePays shares last traded at $6.07, with a volume of 115,284 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Maxim Group boosted their price objective on shares of SurgePays from $10.00 to $15.00 in a research note on Thursday, December 1st.

SurgePays Stock Up 5.4 %

The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 11.98. The company has a market capitalization of $83.95 million, a price-to-earnings ratio of -5.19 and a beta of 1.56. The firm’s 50 day simple moving average is $6.48 and its 200-day simple moving average is $5.68.

SurgePays (NASDAQ:SURG – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $36.17 million during the quarter. SurgePays had a negative net margin of 10.58% and a negative return on equity of 492.78%.

Hedge Funds Weigh In On SurgePays

Institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of SurgePays during the 4th quarter worth $57,000. State Street Corp acquired a new position in shares of SurgePays during the 2nd quarter worth $54,000. Northern Trust Corp acquired a new position in shares of SurgePays during the 1st quarter worth $56,000. Marshall Wace LLP acquired a new position in shares of SurgePays during the 3rd quarter worth $72,000. Finally, Shay Capital LLC acquired a new position in shares of SurgePays during the 1st quarter worth $107,000. 8.31% of the stock is owned by institutional investors and hedge funds.

SurgePays Company Profile

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SurgePays, Inc operates as a technology-driven company, which focuses on building a supply chain software platform as an alternative to traditional wholesale supply chain distribution models. It offers goods and services direct to convenience stores, bodegas, minimarts, tiendas and other corner stores, providing goods and services primarily to the underbanked community.