James Investment Research Inc. Increases Stock Position in SurgePays, Inc. $SURG

James Investment Research Inc. raised its holdings in SurgePays, Inc. (NASDAQ:SURG) by 46.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the medical equipment provider’s stock after purchasing an additional 6,000 shares during the quarter. James Investment Research Inc. owned 0.09% of SurgePays worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. purchased a new stake in shares of SurgePays during the 1st quarter worth approximately $25,000. Goldman Sachs Group Inc. purchased a new stake in shares of SurgePays during the 1st quarter worth approximately $28,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of SurgePays during the 1st quarter worth approximately $35,000. Ethos Financial Group LLC purchased a new stake in shares of SurgePays during the 1st quarter worth approximately $57,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of SurgePays by 34,091.3% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 6.94% of the company’s stock.

SurgePays Price Performance

SURG stock opened at $2.91 on Wednesday. SurgePays, Inc. has a 1 year low of $1.05 and a 1 year high of $3.47. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.84 and a current ratio of 1.11. The stock’s 50 day moving average price is $2.77 and its 200 day moving average price is $2.83. The firm has a market cap of $59.45 million, a P/E ratio of -1.17 and a beta of 0.43.

SurgePays (NASDAQ:SURG) last posted its earnings results on Wednesday, August 13th. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.52 million during the quarter, compared to analysts’ expectations of $16.14 million. SurgePays has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SURG shares. 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 note on Friday, October 3rd. Wall Street Zen raised SurgePays from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SurgePays in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SurgePays currently has an average rating of “Hold” and a consensus target price of $9.50.

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.