SurgePays (NASDAQ:SURG) Issues Earnings Results

SurgePays (NASDAQ:SURG) issued its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.66), Zacks reports. SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%. The business had revenue of $9.59 million for the quarter, compared to analyst estimates of $8.22 million.

SurgePays Stock Up 70.3 %

NASDAQ SURG opened at $2.35 on Thursday. SurgePays has a twelve month low of $1.05 and a twelve month high of $4.38. The stock has a market cap of $47.38 million, a PE ratio of -2.08 and a beta of 1.03. The firm has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24.

Wall Street Analyst Weigh In

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

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.