SurgePays, Inc. (NASDAQ:SURG – Get Free Report) Director David Allen May purchased 34,716 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $0.53 per share, with a total value of $18,399.48. Following the transaction, the director directly owned 156,626 shares in the company, valued at $83,011.78. This trade represents a 28.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
David Allen May also recently made the following trade(s):
- On Thursday, June 4th, David Allen May purchased 121 shares of SurgePays stock. The shares were purchased at an average cost of $0.53 per share, with a total value of $64.13.
- On Wednesday, June 3rd, David Allen May purchased 5,413 shares of SurgePays stock. The shares were purchased at an average cost of $0.53 per share, with a total value of $2,868.89.
SurgePays Stock Down 13.1%
Shares of SURG opened at $0.47 on Friday. The stock has a market capitalization of $11.81 million, a P/E ratio of -0.24 and a beta of 0.31. The firm has a fifty day simple moving average of $0.61 and a two-hundred day simple moving average of $1.10. SurgePays, Inc. has a twelve month low of $0.46 and a twelve month high of $3.45.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Zacks Research cut shares of SurgePays from a “hold” rating to a “strong sell” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SurgePays in a research report on Friday, May 22nd. Finally, Ascendiant Capital Markets dropped their target price on shares of SurgePays from $9.75 to $5.00 and set a “buy” rating for the company in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $5.00.
Get Our Latest Stock Report on SURG
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SURG. Jones Financial Companies Lllp increased its stake in shares of SurgePays by 34,091.3% in 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. Goldman Sachs Group Inc. bought a new position in shares of SurgePays in the 1st quarter worth about $28,000. Cetera Investment Advisers increased its stake in shares of SurgePays by 61.0% in the 2nd quarter. Cetera Investment Advisers now owns 45,400 shares of the medical equipment provider’s stock worth $141,000 after acquiring an additional 17,200 shares in the last quarter. XTX Topco Ltd bought a new position in shares of SurgePays in the 2nd quarter worth about $125,000. Finally, NewEdge Advisors LLC increased its stake in shares of SurgePays by 46.2% in the 2nd quarter. NewEdge Advisors LLC now owns 19,000 shares of the medical equipment provider’s stock worth $59,000 after acquiring an additional 6,000 shares in the last quarter. 6.94% of the stock is currently owned by institutional investors.
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.
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