SurgePays (SURG) Scheduled to Post Earnings on Tuesday

SurgePays (NASDAQ:SURG) will be releasing its earnings data after the market closes on Tuesday, November 12th. Analysts expect SurgePays to post earnings of ($0.22) per share for the quarter.

SurgePays (NASDAQ:SURG) last announced its quarterly earnings results on Tuesday, August 13th. The medical equipment provider reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.49). The business had revenue of $15.09 million for the quarter, compared to analyst estimates of $9.02 million. SurgePays had a negative return on equity of 3.97% and a negative net margin of 1.36%. On average, analysts expect SurgePays to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SurgePays Price Performance

Shares of NASDAQ SURG opened at $1.64 on Wednesday. The business’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $2.69. The company has a market cap of $32.39 million, a PE ratio of 18.22 and a beta of 0.94. The company has a quick ratio of 6.11, a current ratio of 7.38 and a debt-to-equity ratio of 0.07. SurgePays has a twelve month low of $1.33 and a twelve month high of $9.23.

SurgePays declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 13th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 14.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Anthony George Evers sold 33,334 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.54, for a total value of $51,334.36. Following the transaction, the chief financial officer now owns 261,590 shares of the company’s stock, valued at approximately $402,848.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Kevin Brian Cox sold 35,100 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.48, for a total transaction of $51,948.00. Following the sale, the chief executive officer now owns 5,786,012 shares of the company’s stock, valued at $8,563,297.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony George Evers sold 33,334 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.54, for a total value of $51,334.36. Following the sale, the chief financial officer now owns 261,590 shares of the company’s stock, valued at $402,848.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,434 shares of company stock valued at $103,514. 29.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets decreased their target price on SurgePays from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th.

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.