SurgePays, Inc. $SURG Stake Lifted by Ethos Financial Group LLC

Ethos Financial Group LLC boosted its stake in SurgePays, Inc. (NASDAQ:SURG) by 76.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,754 shares of the medical equipment provider’s stock after buying an additional 21,186 shares during the period. Ethos Financial Group LLC owned 0.24% of SurgePays worth $152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SURG. Jones Financial Companies Lllp grew its position in shares of SurgePays by 34,091.3% during the first quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 51,137 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SurgePays during the 1st quarter valued at about $35,000. Goldman Sachs Group Inc. acquired a new position in SurgePays during the 1st quarter valued at about $28,000. D.A. Davidson & CO. bought a new position in SurgePays in the 1st quarter worth about $25,000. Finally, James Investment Research Inc. increased its stake in shares of SurgePays by 46.2% in the second quarter. James Investment Research Inc. now owns 19,000 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 6,000 shares during the period. Institutional investors and hedge funds own 6.94% of the company’s stock.

SurgePays Stock Down 2.8%

Shares of SURG stock opened at $2.41 on Friday. SurgePays, Inc. has a 1 year low of $1.05 and a 1 year high of $3.47. The stock has a market cap of $49.24 million, a PE ratio of -0.97 and a beta of 0.42. The business’s fifty day moving average is $2.78 and its 200-day moving average is $2.83. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.84 and a current ratio of 1.11.

SurgePays (NASDAQ:SURG) last announced its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). SurgePays had a negative net margin of 133.85% and a negative return on equity of 333.87%. The firm had revenue of $11.52 million during the quarter, compared to analyst estimates of $16.14 million. SurgePays has set its FY 2025 guidance at EPS. Equities analysts expect that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SURG. Wall Street Zen upgraded SurgePays from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SurgePays in a research note on Wednesday, October 8th. Finally, Ascendiant Capital Markets boosted their price target on SurgePays from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.50.

SurgePays 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.