Kevin Brian Cox Sells 33,600 Shares of SurgePays, Inc. (NASDAQ:SURG) Stock

SurgePays, Inc. (NASDAQ:SURG) CEO Kevin Brian Cox sold 33,600 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $2.60, for a total transaction of $87,360.00. Following the completion of the sale, the chief executive officer now owns 5,737,779 shares in the company, valued at approximately $14,918,225.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kevin Brian Cox also recently made the following trade(s):

• On Tuesday, July 2nd, Kevin Brian Cox sold 20,915 shares of SurgePays stock. The stock was sold at an average price of $3.05, for a total transaction of $63,790.75.

SurgePays Trading Up 4.9 %

Shares of NASDAQ SURG opened at $2.59 on Wednesday. The firm’s 50 day moving average price is $3.28 and its 200-day moving average price is $4.63. The company has a market cap of $50.28 million, a PE ratio of 2.34, a P/E/G ratio of 5.84 and a beta of 1.00. SurgePays, Inc. has a 52-week low of $2.36 and a 52-week high of $9.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.48 and a current ratio of 6.26.

SurgePays (NASDAQ:SURG) last issued its earnings results on Monday, May 13th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.20). The firm had revenue of $31.43 million during the quarter, compared to the consensus estimate of $32.40 million. SurgePays had a return on equity of 55.35% and a net margin of 12.93%. On average, equities research analysts expect that SurgePays, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets cut their price objective on shares of SurgePays from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday, June 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SURG. Oxford Asset Management LLP bought a new position in SurgePays during the fourth quarter valued at approximately $71,000. Jump Financial LLC lifted its position in SurgePays by 44.7% during the fourth quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 5,100 shares during the period. Victory Capital Management Inc. bought a new position in SurgePays during the fourth quarter valued at approximately $106,000. Privium Fund Management B.V. bought a new position in SurgePays during the first quarter valued at approximately $109,000. Finally, National Bank of Canada FI lifted its position in SurgePays by 50.0% during the second quarter. National Bank of Canada FI now owns 36,000 shares of the medical equipment provider’s stock valued at $111,000 after purchasing an additional 12,000 shares during the period. Institutional investors own 6.94% of the company’s stock.

About SurgePays

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.