SurgePays (NASDAQ:SURG) Issues Earnings Results

SurgePays (NASDAQ:SURGGet Rating) issued its earnings results on Monday. The medical equipment provider reported ($0.10) EPS for the quarter, MarketWatch Earnings reports. The business had revenue of $21.14 million for the quarter. SurgePays updated its FY 2022 guidance to EPS.

Shares of SURG opened at $3.79 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average price of $3.77 and a 200-day moving average price of $3.03. SurgePays has a fifty-two week low of $1.76 and a fifty-two week high of $9.00.

Institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in SurgePays in the fourth quarter valued at about $27,000. Northern Trust Corp purchased a new position in SurgePays in the first quarter worth $56,000. Virtu Financial LLC acquired a new position in shares of SurgePays during the fourth quarter worth $42,000. Geode Capital Management LLC purchased a new stake in shares of SurgePays during the 4th quarter valued at $52,000. Finally, Shay Capital LLC acquired a new stake in SurgePays in the first quarter worth about $107,000. Institutional investors own 4.62% of the company’s stock.

Several brokerages recently issued reports on SURG. Ascendiant Capital Markets began coverage on SurgePays in a research note on Monday, January 24th. They issued a “buy” rating and a $7.00 price objective on the stock. Maxim Group increased their price target on SurgePays from $6.00 to $8.00 in a research report on Monday, March 28th.

About SurgePays (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.

See Also

Earnings History for SurgePays (NASDAQ:SURG)

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