SurgePays (NASDAQ:SURG) Given New $9.50 Price Target at Ascendiant Capital Markets

SurgePays (NASDAQ:SURGFree Report) had its target price cut by Ascendiant Capital Markets from $10.00 to $9.50 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Separately, Maxim Group downgraded SurgePays from a buy rating to a hold rating in a report on Wednesday, March 13th.

Check Out Our Latest Report on SURG

SurgePays Stock Performance

SurgePays stock opened at $3.99 on Thursday. 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 $77.45 million, a P/E ratio of 3.47, a price-to-earnings-growth ratio of 8.24 and a beta of 1.07. SurgePays has a fifty-two week low of $3.28 and a fifty-two week high of $9.23. The firm’s 50 day simple moving average is $3.83 and its 200-day simple moving average is $5.55.

SurgePays (NASDAQ:SURGGet Free Report) last announced its earnings results on Monday, May 13th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.20). The firm had revenue of $31.43 million for the quarter, compared to analyst estimates of $32.40 million. SurgePays had a net margin of 12.93% and a return on equity of 55.35%. As a group, equities research analysts predict that SurgePays will post 0.03 EPS for the current year.

Hedge Funds Weigh In On SurgePays

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

SurgePays Company Profile

(Get Free Report)

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.

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