SurgePays (NASDAQ:SURG) Share Price Crosses Above 200-Day Moving Average of $4.53

SurgePays, Inc. (NASDAQ:SURGGet Rating)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.53 and traded as high as $4.93. SurgePays shares last traded at $4.85, with a volume of 80,535 shares changing hands.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their price target on SurgePays to $8.75 in a report on Tuesday, September 6th.

SurgePays Trading Down 0.8 %

The company has a market capitalization of $58.92 million and a P/E ratio of -3.08. The business has a fifty day moving average price of $5.24 and a 200 day moving average price of $4.55. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 2.56.

Insider Buying and Selling

In related news, CEO Kevin Brian Cox bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were acquired at an average price of $4.77 per share, for a total transaction of $33,390.00. Following the completion of the acquisition, the chief executive officer now owns 3,449,694 shares of the company’s stock, valued at approximately $16,455,040.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SurgePays

A number of institutional investors have recently bought and sold shares of the business. State Street Corp acquired a new position in SurgePays during the second quarter worth approximately $54,000. Northern Trust Corp acquired a new position in shares of SurgePays in the first quarter valued at approximately $56,000. Shay Capital LLC acquired a new position in shares of SurgePays in the first quarter valued at approximately $107,000. Kestra Advisory Services LLC grew its position in shares of SurgePays by 56.5% in the first quarter. Kestra Advisory Services LLC now owns 77,150 shares of the medical equipment provider’s stock valued at $315,000 after purchasing an additional 27,850 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of SurgePays in the first quarter valued at approximately $122,000. Institutional investors and hedge funds own 7.13% of the company’s stock.

SurgePays Company Profile

(Get Rating)

SurgePays, Inc, a financial technology and telecommunications company, provides services to the underbanked community in the United States. Its blockchain platform utilizes a suite of financial and prepaid products to convert corner stores and bodegas into tech-hubs for underbanked neighborhoods. The company offers voice and SMS text messaging services to subsidized and direct retail prepaid customers, as well as to low-income consumers.

Further Reading

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