Anthony George Evers Sells 36,667 Shares of SurgePays, Inc. (NASDAQ:SURG) Stock

SurgePays, Inc. (NASDAQ:SURG) CFO Anthony George Evers sold 36,667 shares of SurgePays stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $3.01, for a total value of $110,367.67. Following the sale, the chief financial officer now directly owns 174,006 shares in the company, valued at $523,758.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

SurgePays Stock Performance

SurgePays stock opened at $2.91 on Thursday. The firm has a market capitalization of $56.48 million, a P/E ratio of 2.53, a P/E/G ratio of 6.93 and a beta of 1.00. The stock has a fifty day moving average price of $3.72 and a two-hundred day moving average price of $5.21. SurgePays, Inc. has a 52-week low of $2.89 and a 52-week high of $9.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.26 and a quick ratio of 5.48.

SurgePays (NASDAQ:SURG) last released its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). The business 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, analysts anticipate that SurgePays, Inc. will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On SurgePays

Several hedge funds have recently added to or reduced their stakes in SURG. Truvestments Capital LLC lifted its stake in SurgePays by 3,541.8% in the first quarter. Truvestments Capital LLC now owns 58,123 shares of the medical equipment provider’s stock valued at $224,000 after buying an additional 56,527 shares during the period. Vanguard Group Inc. lifted its stake in SurgePays by 8.2% in the first quarter. Vanguard Group Inc. now owns 505,380 shares of the medical equipment provider’s stock valued at $1,946,000 after buying an additional 38,195 shares in the last quarter. Privium Fund Management B.V. acquired a new stake in shares of SurgePays during the first quarter worth $109,000. Victory Capital Management Inc. bought a new stake in shares of SurgePays in the fourth quarter valued at about $106,000. Finally, FNY Investment Advisers LLC bought a new stake in SurgePays in the 4th quarter valued at approximately $95,000. Institutional investors own 6.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.