SurgePays, Inc. (NASDAQ:SURG) Short Interest Update

SurgePays, Inc. (NASDAQ:SURG) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,430,000 shares, an increase of 303.7% from the March 15th total of 354,200 shares. Currently, 10.1% of the company’s shares are short sold. Based on an average trading volume of 1,540,000 shares, the short-interest ratio is currently 0.9 days.

SurgePays Stock Down 0.2 %

Shares of SURG traded down $0.00 during mid-day trading on Wednesday, hitting $2.34. 5,738 shares of the company’s stock were exchanged, compared to its average volume of 627,412. 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 company has a market cap of $47.68 million, a price-to-earnings ratio of -2.09 and a beta of 0.57. The stock’s 50-day moving average is $1.65 and its 200-day moving average is $1.69. SurgePays has a fifty-two week low of $1.05 and a fifty-two week high of $4.38.

SurgePays (NASDAQ:SURG) last released its earnings results on Tuesday, March 25th. The medical equipment provider reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.66). SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%. The company had revenue of $9.59 million for the quarter, compared to analyst estimates of $8.22 million. On average, sell-side analysts anticipate that SurgePays will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SurgePays

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in SurgePays in the third quarter valued at approximately $25,000. XTX Topco Ltd purchased a new position in SurgePays during the 4th quarter worth approximately $53,000. Jane Street Group LLC acquired a new stake in shares of SurgePays in the fourth quarter valued at approximately $54,000. Renaissance Technologies LLC grew its holdings in shares of SurgePays by 43.6% during the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 15,000 shares during the last quarter. Finally, Northern Trust Corp raised its stake in SurgePays by 67.4% during the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 25,467 shares during the last quarter. 6.94% of the stock is owned by hedge funds and other 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.