SurgePays, Inc. (NASDAQ:SURG) Short Interest Down 12.7% in February

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

SurgePays Price Performance

SURG stock opened at $1.28 on Friday. The stock has a market cap of $25.81 million, a PE ratio of -1.13 and a beta of 1.00. 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 has a one year low of $1.05 and a one year high of $7.32. The firm has a 50 day simple moving average of $1.51 and a two-hundred day simple moving average of $1.65.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On SurgePays

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SURG. Jane Street Group LLC bought a new stake in SurgePays during the 4th quarter valued at $54,000. XTX Topco Ltd bought a new stake in SurgePays during the 4th quarter valued at $53,000. Northern Trust Corp raised its holdings in SurgePays by 67.4% during the 4th quarter. Northern Trust Corp now owns 63,269 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 25,467 shares during the last quarter. Royce & Associates LP bought a new stake in SurgePays during the 3rd quarter valued at $34,000. Finally, Truvestments Capital LLC raised its holdings in SurgePays by 20.1% during the 4th quarter. Truvestments Capital LLC now owns 102,002 shares of the medical equipment provider’s stock valued at $182,000 after buying an additional 17,056 shares during the last quarter. 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.