SurgePays (NASDAQ:SURG) Announces Quarterly Earnings Results

SurgePays (NASDAQ:SURG) announced its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.66), Zacks reports. The company had revenue of $9.59 million during the quarter, compared to analyst estimates of $8.22 million. SurgePays had a negative return on equity of 55.63% and a negative net margin of 27.39%.

SurgePays Stock Performance

NASDAQ:SURG opened at $2.35 on Thursday. The firm has a market capitalization of $47.38 million, a PE ratio of -2.08 and a beta of 1.03. SurgePays has a 1 year low of $1.05 and a 1 year high of $4.38. The company has a current ratio of 6.24, a quick ratio of 4.70 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $1.40 and its 200 day simple moving average is $1.62.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets reduced their target price on SurgePays from $9.00 to $8.50 and set a “buy” rating for the company 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.