SurgePays, Inc. (NASDAQ:SURG) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC boosted its holdings in SurgePays, Inc. (NASDAQ:SURG) by 20.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,002 shares of the medical equipment provider’s stock after acquiring an additional 17,056 shares during the period. Truvestments Capital LLC owned 0.51% of SurgePays worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in SurgePays in the 3rd quarter valued at about $25,000. Royce & Associates LP acquired a new stake in SurgePays in the 3rd quarter valued at about $34,000. Corsair Capital Management L.P. grew its stake in SurgePays by 50.3% in the 3rd quarter. Corsair Capital Management L.P. now owns 29,864 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in SurgePays by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 148,018 shares of the medical equipment provider’s stock valued at $272,000 after acquiring an additional 15,039 shares during the last quarter. 6.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SurgePays Price Performance

SurgePays stock opened at $1.29 on Thursday. SurgePays, Inc. has a 12-month low of $1.05 and a 12-month high of $5.49. The stock has a market capitalization of $26.01 million, a P/E ratio of -1.14 and a beta of 1.03. The firm’s 50-day moving average is $1.47 and its two-hundred day moving average is $1.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70.

SurgePays 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.