Insider Selling: SurgePays, Inc. (NASDAQ:SURG) CFO Sells 36,667 Shares of Stock

SurgePays, Inc. (NASDAQ:SURG) CFO Anthony George Evers sold 36,667 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $3.01, for a total value of $110,367.67. Following the completion of the sale, the chief financial officer now owns 174,006 shares in the company, valued at $523,758.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SurgePays Trading Down 6.7 %

SURG opened at $2.91 on Friday. The stock’s fifty day moving average is $3.72 and its two-hundred day moving average is $5.21. The company has a market capitalization of $56.48 million, a P/E ratio of 2.53, a PEG ratio of 6.47 and a beta of 1.00. SurgePays, Inc. has a 52 week low of $2.89 and a 52 week high of $9.23. The company has a quick ratio of 5.48, a current ratio of 6.26 and a debt-to-equity ratio of 0.06.

SurgePays (NASDAQ:SURG) last released its quarterly earnings data on Monday, May 13th. The medical equipment provider reported $0.07 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 analysts’ expectations of $32.40 million. SurgePays had a return on equity of 55.35% and a net margin of 12.93%. Analysts forecast that SurgePays, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SURG shares. Maxim Group downgraded SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Ascendiant Capital Markets reduced their price target on SurgePays from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday, June 6th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SURG. FNY Investment Advisers LLC purchased a new position in SurgePays during the 4th quarter worth $95,000. Bailard Inc. boosted its position in SurgePays by 10.8% during the 4th quarter. Bailard Inc. now owns 65,480 shares of the medical equipment provider’s stock valued at $422,000 after acquiring an additional 6,405 shares in the last quarter. Victory Capital Management Inc. bought a new stake in SurgePays during the 4th quarter valued at $106,000. Jump Financial LLC boosted its position in SurgePays by 44.7% during the 4th quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new stake in SurgePays during the 4th quarter valued at $71,000. 6.94% of the stock is currently 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.