SurgePays (SURG) Set to Announce Quarterly Earnings on Tuesday

SurgePays (NASDAQ:SURG) will issue its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

SurgePays (NASDAQ:SURG) last posted its earnings results on Tuesday, August 13th. The medical equipment provider reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.49). SurgePays had a negative return on equity of 3.97% and a negative net margin of 1.36%. The business had revenue of $15.09 million for the quarter, compared to analyst estimates of $9.02 million. On average, analysts expect SurgePays to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SurgePays Stock Performance

Shares of SurgePays stock opened at $1.52 on Friday. The firm has a market cap of $30.01 million, a PE ratio of 16.89 and a beta of 0.94. The company has a quick ratio of 6.11, a current ratio of 7.38 and a debt-to-equity ratio of 0.07. SurgePays has a 52 week low of $1.33 and a 52 week high of $9.23. The business’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $2.67.

SurgePays declared that its board has approved a share buyback plan on Tuesday, August 13th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to reacquire up to 14.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets reduced their price target on shares of SurgePays from $9.50 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th.

Insiders Place Their Bets

In other news, CFO Anthony George Evers sold 33,334 shares of SurgePays stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.54, for a total value of $51,334.36. Following the completion of the sale, the chief financial officer now directly owns 261,590 shares of the company’s stock, valued at approximately $402,848.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Anthony George Evers sold 33,334 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.54, for a total value of $51,334.36. Following the completion of the transaction, the chief financial officer now owns 261,590 shares of the company’s stock, valued at approximately $402,848.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Brian Cox sold 35,100 shares of SurgePays stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.48, for a total transaction of $51,948.00. Following the completion of the transaction, the chief executive officer now owns 5,786,012 shares of the company’s stock, valued at $8,563,297.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,434 shares of company stock worth $103,514 over the last ninety days. Corporate insiders own 29.40% 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.