SurgePays (NASDAQ:SURG) Announces Earnings Results, Misses Expectations By $0.62 EPS

SurgePays (NASDAQ:SURG) announced its earnings results on Tuesday. The medical equipment provider reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.62), Zacks reports. SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%.

SurgePays Stock Up 5.3 %

Shares of NASDAQ SURG traded up $0.07 during trading on Tuesday, hitting $1.38. 7,758,910 shares of the company traded hands, compared to its average volume of 272,838. The firm has a market capitalization of $27.82 million, a price-to-earnings ratio of -1.22 and a beta of 1.03. The business’s fifty day moving average is $1.39 and its 200 day moving average is $1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. SurgePays has a fifty-two week low of $1.05 and a fifty-two week high of $4.61.

Analyst Ratings Changes

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

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.