SurgePays Q3 EPS Reduced by Ascendiant Capital Markets

SurgePays, Inc. (NASDAQ:SURG) – Equities research analysts at Ascendiant Capital Markets dropped their Q3 2027 earnings estimates for SurgePays in a report issued on Tuesday, June 9th. Ascendiant Capital Markets analyst E. Woo now anticipates that the medical equipment provider will earn $0.06 per share for the quarter, down from their prior estimate of $0.07. Ascendiant Capital Markets has a “Buy” rating and a $3.50 price objective on the stock. The consensus estimate for SurgePays’ current full-year earnings is ($0.44) per share. Ascendiant Capital Markets also issued estimates for SurgePays’ FY2027 earnings at $0.05 EPS.

SurgePays (NASDAQ:SURG) last announced its earnings results on Wednesday, May 20th. The medical equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.32). SurgePays had a negative net margin of 64.91% and a negative return on equity of 967.32%. The business had revenue of $15.98 million for the quarter, compared to analysts’ expectations of $15.50 million.

SURG has been the subject of a number of other reports. Zacks Research cut shares of SurgePays from a “hold” rating to a “strong sell” rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SurgePays in a report on Friday, May 22nd. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $3.50.

SurgePays Trading Down 1.6%

Shares of SURG stock opened at $0.45 on Friday. SurgePays has a 12 month low of $0.44 and a 12 month high of $3.45. The stock has a market cap of $11.33 million, a P/E ratio of -0.23 and a beta of 0.31. The company has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $1.06.

Hedge Funds Weigh In On SurgePays

A number of hedge funds have recently modified their holdings of SURG. Gaddis Premier Wealth Advisors LLC bought a new position in shares of SurgePays in the fourth quarter worth approximately $631,000. CIBC Bancorp USA Inc. bought a new position in shares of SurgePays in the third quarter worth approximately $320,000. Millennium Capital Advisors LLC bought a new stake in SurgePays during the fourth quarter valued at about $142,000. CIBC Private Wealth Group LLC purchased a new position in shares of SurgePays in the third quarter valued at about $211,000. Finally, Jones Financial Companies Lllp lifted its position in shares of SurgePays by 34,091.3% in the first quarter. Jones Financial Companies Lllp now owns 51,287 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 51,137 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.