SurgePays, Inc. (NASDAQ:SURG) Short Interest Update

SurgePays, Inc. (NASDAQ:SURG) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 365,800 shares, a decrease of 12.7% from the January 31st total of 419,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 505,300 shares, the short-interest ratio is currently 0.7 days.

SurgePays Stock Up 8.8 %

NASDAQ:SURG opened at $1.23 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.24 and a quick ratio of 4.70. The company’s fifty day moving average price is $1.52 and its 200-day moving average price is $1.66. SurgePays has a 1-year low of $1.05 and a 1-year high of $7.32. The firm has a market capitalization of $24.80 million, a P/E ratio of -1.09 and a beta of 1.00.

Institutional Investors Weigh In On SurgePays

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of SurgePays by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 156,115 shares of the medical equipment provider’s stock valued at $278,000 after buying an additional 8,097 shares during the period. Corsair Capital Management L.P. lifted its holdings in SurgePays by 50.3% in the third 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 period. Virtu Financial LLC purchased a new stake in SurgePays in the 3rd quarter worth approximately $25,000. Renaissance Technologies LLC boosted its position in SurgePays by 43.6% in the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of SurgePays by 23.1% during the 3rd quarter. Truvestments Capital LLC now owns 84,946 shares of the medical equipment provider’s stock worth $156,000 after purchasing an additional 15,956 shares during the period. 6.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets dropped their target price on SurgePays from $9.00 to $8.50 and set a “buy” rating on the stock in a research 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.