Bailard Inc. Raises Position in SurgePays, Inc. (NASDAQ:SURG)

Bailard Inc. increased its holdings in SurgePays, Inc. (NASDAQ:SURG) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,480 shares of the medical equipment provider’s stock after purchasing an additional 6,405 shares during the period. Bailard Inc. owned 0.39% of SurgePays worth $422,000 as of its most recent SEC filing.

Separately, James Investment Research Inc. purchased a new stake in SurgePays in the 3rd quarter valued at about $47,000. Institutional investors own 6.94% of the company’s stock.

SurgePays Price Performance

SURG stock opened at $3.39 on Friday. The stock has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $5.76. The company has a market cap of $65.39 million, a PE ratio of 2.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.02. SurgePays, Inc. has a 12-month low of $3.28 and a 12-month high of $9.23.

SurgePays (NASDAQ:SURG) last issued its earnings results on Tuesday, March 12th. The medical equipment provider reported $0.19 earnings per share (EPS) for the quarter. SurgePays had a return on equity of 104.66% and a net margin of 15.03%. The business had revenue of $32.32 million during the quarter. As a group, research analysts predict that SurgePays, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

SURG has been the topic of several recent analyst reports. Ascendiant Capital Markets cut their price objective on shares of SurgePays from $11.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Maxim Group downgraded shares of SurgePays from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th.

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.