SurgePays, Inc. (NASDAQ:SURG) Stock Short Interest Report for September

SurgePays, Inc. (NASDAQ:SURG) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 3,277,654 shares, a decline of 35.9% from the September 15th total of 5,114,724 shares. Currently, 8.7% of the shares of the company are short sold. Based on an average daily trading volume, of 16,502,535 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SURG. Millennium Capital Advisors LLC raised its stake in SurgePays by 185.7% in the third quarter. Millennium Capital Advisors LLC now owns 600,000 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 390,000 shares in the last quarter. Gaddis Premier Wealth Advisors LLC lifted its position in SurgePays by 16.0% during the first quarter. Gaddis Premier Wealth Advisors LLC now owns 438,287 shares of the medical equipment provider’s stock worth $329,000 after purchasing an additional 60,363 shares during the period. Finally, Cetera Investment Advisers grew its stake in SurgePays by 43.5% during the first quarter. Cetera Investment Advisers now owns 66,000 shares of the medical equipment provider’s stock worth $50,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 6.94% of the company’s stock.

SurgePays Stock Down 2.8%

Shares of SurgePays stock traded down $0.00 during trading on Friday, reaching $0.12. The company’s stock had a trading volume of 694,192 shares, compared to its average volume of 3,560,824. The business’s 50-day moving average price is $0.17 and its 200-day moving average price is $0.38. The firm has a market cap of $6.53 million, a PE ratio of -0.08 and a beta of 0.40. SurgePays has a 52 week low of $0.12 and a 52 week high of $2.95.

SurgePays (NASDAQ:SURG) last released its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.16. Equities analysts predict that SurgePays will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

SURG has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SurgePays in a research note on Wednesday, August 19th. Zacks Research raised shares of SurgePays from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.50.

About SurgePays

SurgePays, Inc is a financial technology and telecommunications company that provides mobile connectivity and financial services to underserved and underbanked consumers in the United States. Its offerings are designed to support individuals who may have limited access to traditional banking, wireless service, or digital payment options.

Through its telecommunications operations, SurgePays provides prepaid wireless products, mobile broadband services, SIM cards, mobile devices, and related connectivity solutions.