Truvestments Capital LLC Increases Stake in SurgePays, Inc. (NASDAQ:SURG)

Truvestments Capital LLC lifted its stake in shares of SurgePays, Inc. (NASDAQ:SURG) by 20.1% during the 4th quarter, HoldingsChannel reports. The fund owned 102,002 shares of the medical equipment provider’s stock after acquiring an additional 17,056 shares during the period. Truvestments Capital LLC’s holdings in SurgePays were worth $182,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SURG. Royce & Associates LP purchased a new position in shares of SurgePays during the 3rd quarter worth about $34,000. Geode Capital Management LLC lifted its holdings in shares of SurgePays by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 148,018 shares of the medical equipment provider’s stock worth $272,000 after acquiring an additional 15,039 shares during the period. Virtu Financial LLC purchased a new position in shares of SurgePays during the 3rd quarter worth about $25,000. Finally, Corsair Capital Management L.P. lifted its holdings in shares of SurgePays by 50.3% during the 3rd quarter. Corsair Capital Management L.P. now owns 29,864 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 10,000 shares during the period. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

SurgePays Trading Up 0.8 %

NASDAQ SURG opened at $1.29 on Thursday. SurgePays, Inc. has a one year low of $1.05 and a one year high of $5.49. The company’s 50 day moving average price is $1.47 and its 200 day moving average price is $1.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. The firm has a market capitalization of $26.01 million, a price-to-earnings ratio of -1.14 and a beta of 1.03.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets cut their price objective on shares of SurgePays from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, December 16th.

SurgePays 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.