Kevin Brian Cox Sells 20,915 Shares of SurgePays, Inc. (NASDAQ:SURG) Stock

SurgePays, Inc. (NASDAQ:SURG) CEO Kevin Brian Cox sold 20,915 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $3.05, for a total value of $63,790.75. Following the completion of the transaction, the chief executive officer now directly owns 5,688,046 shares of the company’s stock, valued at approximately $17,348,540.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

SurgePays Price Performance

Shares of SURG traded down $0.21 during mid-day trading on Wednesday, reaching $2.91. The company had a trading volume of 226,139 shares, compared to its average volume of 547,599. SurgePays, Inc. has a twelve month low of $2.89 and a twelve month high of $9.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.26 and a quick ratio of 5.48. The company’s 50-day moving average is $3.73 and its 200-day moving average is $5.23. The company has a market capitalization of $56.49 million, a P/E ratio of 2.53, a P/E/G ratio of 7.09 and a beta of 1.00.

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 analysts’ consensus estimates of $0.27 by ($0.20). SurgePays had a return on equity of 55.35% and a net margin of 12.93%. The company had revenue of $31.43 million during the quarter, compared to analyst estimates of $32.40 million. On average, equities analysts anticipate that SurgePays, Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

SURG has been the subject of several recent research reports. Maxim Group cut SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Ascendiant Capital Markets cut their price target on SurgePays from $10.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, June 6th.

Institutional Investors Weigh In On SurgePays

Large investors have recently bought and sold shares of the business. Oxford Asset Management LLP bought a new stake in SurgePays during the 4th quarter worth approximately $71,000. FNY Investment Advisers LLC bought a new stake in SurgePays during the 4th quarter worth approximately $95,000. Jump Financial LLC grew its position in SurgePays by 44.7% during the 4th quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 5,100 shares during the last quarter. Victory Capital Management Inc. bought a new stake in SurgePays during the 4th quarter worth approximately $106,000. Finally, Privium Fund Management B.V. bought a new stake in SurgePays during the 1st quarter worth approximately $109,000. 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.