SurgePays, Inc. (NASDAQ:SURG – Get Free Report) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 5,114,724 shares, an increase of 1,548.5% from the August 31st total of 310,267 shares. Based on an average daily volume of 33,426,869 shares, the short-interest ratio is currently 0.2 days. Approximately 13.6% of the shares of the stock are short sold.
Analysts Set New Price Targets
SURG has been the topic of a number of recent research reports. Zacks Research raised SurgePays from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of SurgePays in a research report on Wednesday, August 19th. Finally, Ascendiant Capital Markets cut their price target on SurgePays from $5.00 to $3.50 and set a “buy” rating for the company in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.50.
View Our Latest Stock Analysis on SURG
Institutional Trading of SurgePays
SurgePays Trading Down 0.8%
Shares of SurgePays stock traded down $0.00 during mid-day trading on Thursday, hitting $0.15. 1,924,985 shares of the stock were exchanged, compared to its average volume of 8,229,458. SurgePays has a twelve month low of $0.14 and a twelve month high of $3.14. The stock has a market capitalization of $7.92 million, a price-to-earnings ratio of -0.10 and a beta of 0.39. The company has a 50-day simple moving average of $0.21 and a 200 day simple moving average of $0.45.
SurgePays (NASDAQ:SURG – Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.16. Equities research analysts forecast that SurgePays will post -0.7 earnings per share for the current fiscal year.
SurgePays Company Profile
SurgePays, Inc is a fintech and telecommunications company that provides wireless connectivity and financial technology services to underserved consumers and small businesses in the United States. Its telecommunications operations include prepaid wireless and mobile broadband services offered through brands such as SurgePhone Wireless.
The company also operates a wholesale and retail distribution platform serving convenience stores and other independent retailers. Its products and services may include prepaid wireless airtime, mobile phone top-ups, bill-payment solutions, and related financial technology tools that help retailers offer digital and payment services to their customers.
SurgePays is headquartered in Bartlett, Tennessee, and has focused on expanding access to affordable communications and financial services, particularly among lower-income and underbanked consumers.
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