Kevin Brian Cox Sells 20,915 Shares of SurgePays, Inc. (NASDAQ:SURG) Stock

SurgePays, Inc. (NASDAQ:SURG) CEO Kevin Brian Cox sold 20,915 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $3.05, for a total transaction of $63,790.75. Following the completion of the transaction, the chief executive officer now owns 5,688,046 shares in the company, valued at approximately $17,348,540.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SurgePays Trading Down 6.7 %

SURG stock traded down $0.21 during mid-day trading on Wednesday, reaching $2.91. 226,139 shares of the stock traded hands, compared to its average volume of 547,599. 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. The stock has a market capitalization of $56.49 million, a PE ratio of 2.53, a PEG ratio of 7.09 and a beta of 1.00. The business has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $5.23.

SurgePays (NASDAQ:SURG) last posted its quarterly earnings results on Monday, May 13th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). The company had revenue of $31.43 million during the quarter, compared to the consensus estimate of $32.40 million. SurgePays had a return on equity of 55.35% and a net margin of 12.93%. Equities research analysts expect that SurgePays, Inc. will post 0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SURG shares. Ascendiant Capital Markets decreased their target price 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. Maxim Group downgraded shares of SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th.

Institutional Trading of SurgePays

A number of hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC lifted its stake in SurgePays by 44.7% in the fourth quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 5,100 shares during the period. Bailard Inc. lifted its position in shares of SurgePays by 10.8% during the fourth quarter. Bailard Inc. now owns 65,480 shares of the medical equipment provider’s stock valued at $422,000 after buying an additional 6,405 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in shares of SurgePays during the fourth quarter valued at about $71,000. FNY Investment Advisers LLC purchased a new stake in shares of SurgePays during the fourth quarter valued at about $95,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of SurgePays during the fourth quarter valued at about $106,000. 6.94% of the stock is 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.