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

SurgePays Price Performance

Shares of SurgePays stock opened at $2.91 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.26 and a quick ratio of 5.48. The business’s 50 day simple moving average is $3.72 and its two-hundred day simple moving average is $5.21. The stock has a market capitalization of $56.48 million, a P/E ratio of 2.53, a price-to-earnings-growth ratio of 6.47 and a beta of 1.00. SurgePays, Inc. has a one year low of $2.89 and a one year high of $9.23.

SurgePays (NASDAQ:SURG) last announced 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 analysts’ expectations of $32.40 million. SurgePays had a return on equity of 55.35% and a net margin of 12.93%. Analysts forecast that SurgePays, Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Maxim Group cut SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Ascendiant Capital Markets decreased their price objective on SurgePays from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday, June 6th.

Hedge Funds Weigh In On SurgePays

A number of large investors have recently bought and sold shares of SURG. Truvestments Capital LLC grew its position in shares of SurgePays by 3,541.8% in the 1st quarter. Truvestments Capital LLC now owns 58,123 shares of the medical equipment provider’s stock worth $224,000 after buying an additional 56,527 shares during the last quarter. Vanguard Group Inc. grew its position in shares of SurgePays by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 505,380 shares of the medical equipment provider’s stock worth $1,946,000 after buying an additional 38,195 shares during the last quarter. Privium Fund Management B.V. bought a new stake in shares of SurgePays in the 1st quarter worth approximately $109,000. Victory Capital Management Inc. bought a new stake in shares of SurgePays in the 4th quarter worth approximately $106,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of SurgePays in the 4th quarter worth approximately $95,000. 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.