SurgePays, Inc. $SURG Position Increased by Ethos Financial Group LLC

Ethos Financial Group LLC boosted its holdings in SurgePays, Inc. (NASDAQ:SURG) by 76.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,754 shares of the medical equipment provider’s stock after buying an additional 21,186 shares during the quarter. Ethos Financial Group LLC’s holdings in SurgePays were worth $152,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. D.A. Davidson & CO. acquired a new stake in shares of SurgePays during the 1st quarter valued at $25,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of SurgePays during the first quarter worth $35,000. Jones Financial Companies Lllp raised 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 purchasing an additional 51,137 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of SurgePays during the first quarter valued at $28,000. Finally, James Investment Research Inc. boosted its position in shares of SurgePays by 46.2% in the 2nd 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 own 6.94% of the company’s stock.

SurgePays Trading Down 2.8%

NASDAQ:SURG opened at $2.41 on Friday. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.11 and a quick ratio of 0.84. SurgePays, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $3.47. The stock’s 50-day moving average is $2.78 and its two-hundred day moving average is $2.83. The stock has a market cap of $49.24 million, a PE ratio of -0.97 and a beta of 0.42.

SurgePays (NASDAQ:SURG) last posted its quarterly 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). The company had revenue of $11.52 million during the quarter, compared to analysts’ expectations of $16.14 million. SurgePays had a negative return on equity of 333.87% and a negative net margin of 133.85%. SurgePays has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.