SurgePays (SURG) Scheduled to Post Earnings on Tuesday

SurgePays (NASDAQ:SURG) is scheduled to announce its earnings results after the market closes on Tuesday, November 12th. Analysts expect the company to announce 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.49). SurgePays had a negative net margin of 1.36% and a negative return on equity of 3.97%. The firm had revenue of $15.09 million during the quarter, compared to the consensus estimate of $9.02 million. On average, analysts expect SurgePays to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SurgePays Stock Up 0.6 %

Shares of SURG opened at $1.64 on Wednesday. SurgePays has a 52 week low of $1.33 and a 52 week high of $9.23. The stock has a market capitalization of $32.39 million, a price-to-earnings ratio of 18.22 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.11 and a current ratio of 7.38. The stock has a fifty day moving average of $1.68 and a 200-day moving average of $2.69.

SurgePays announced that its board has authorized a share buyback plan on Tuesday, August 13th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 14.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at SurgePays

In related news, CEO Kevin Brian Cox sold 35,100 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.48, for a total value of $51,948.00. Following the completion of the sale, the chief executive officer now directly owns 5,786,012 shares in the company, valued at $8,563,297.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SurgePays news, CFO Anthony George Evers sold 33,334 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.54, for a total transaction of $51,334.36. Following the completion of the sale, the chief financial officer now directly owns 261,590 shares in the company, valued at approximately $402,848.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Brian Cox sold 35,100 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.48, for a total value of $51,948.00. Following the sale, the chief executive officer now owns 5,786,012 shares of the company’s stock, valued at approximately $8,563,297.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,434 shares of company stock worth $103,514 over the last three months. Company insiders own 29.40% of the company’s stock.

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.