SurgePays (NASDAQ:SURG) Announces Quarterly Earnings Results, Misses Estimates By $0.62 EPS

SurgePays (NASDAQ:SURG) issued its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.62), Zacks reports. SurgePays had a negative net margin of 27.39% and a negative return on equity of 55.63%.

SurgePays Stock Performance

Shares of SURG stock traded up $0.07 during midday trading on Tuesday, hitting $1.38. The company had a trading volume of 6,259,769 shares, compared to its average volume of 272,838. 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 50 day simple moving average is $1.39 and its 200 day simple moving average is $1.61. SurgePays has a 52-week low of $1.05 and a 52-week high of $4.61. The stock has a market cap of $27.82 million, a price-to-earnings ratio of -1.22 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets decreased 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.

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.