SurgePays (NASDAQ:SURG) Issues Earnings Results, Misses Estimates By $0.62 EPS

SurgePays (NASDAQ:SURG) issued its quarterly 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 net margin of 27.39% and a negative return on equity of 55.63%.

SurgePays Trading Up 5.3 %

Shares of SurgePays stock opened at $1.38 on Wednesday. SurgePays has a 1 year low of $1.05 and a 1 year high of $4.38. The company has a market capitalization of $27.82 million, a price-to-earnings ratio of -1.22 and a beta of 1.03. The business has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets decreased their target price on shares of SurgePays from $9.00 to $8.50 and set a “buy” rating for the company in a research note 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.