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 the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $3.01, for a total transaction of $110,367.67. Following the sale, the chief financial officer now directly owns 174,006 shares of the company’s stock, valued at $523,758.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SurgePays Stock Performance

Shares of SURG traded down $0.21 during mid-day trading on Wednesday, hitting $2.91. The company’s stock had a trading volume of 226,136 shares, compared to its average volume of 547,599. The stock’s 50-day moving average is $3.72 and its two-hundred day moving average is $5.21. The firm has a market capitalization of $56.49 million, a PE ratio of 2.53, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.48 and a current ratio of 6.26. SurgePays, Inc. has a one year low of $2.89 and a one year high of $9.23.

SurgePays (NASDAQ:SURG) last released its earnings results 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 company 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, sell-side analysts anticipate that SurgePays, Inc. will post 0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Maxim Group lowered shares of SurgePays from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Ascendiant Capital Markets dropped their price objective on SurgePays from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th.

Institutional Investors Weigh In On SurgePays

Institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC raised its holdings in SurgePays by 3,541.8% in the 1st quarter. Truvestments Capital LLC now owns 58,123 shares of the medical equipment provider’s stock valued at $224,000 after acquiring an additional 56,527 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SurgePays by 8.2% during the first quarter. Vanguard Group Inc. now owns 505,380 shares of the medical equipment provider’s stock valued at $1,946,000 after purchasing an additional 38,195 shares during the period. Privium Fund Management B.V. acquired a new position in shares of SurgePays in the first quarter valued at $109,000. Oxford Asset Management LLP bought a new position in SurgePays in the fourth quarter worth $71,000. Finally, Jump Financial LLC boosted its stake in SurgePays by 44.7% during 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 in the last quarter. 6.94% of the stock is owned by institutional investors and hedge funds.

SurgePays Company Profile

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.