XTX Topco Ltd Makes New Investment in SurgePays, Inc. (NASDAQ:SURG)

XTX Topco Ltd acquired a new stake in SurgePays, Inc. (NASDAQ:SURG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,869 shares of the medical equipment provider’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in SurgePays in the 3rd quarter valued at about $25,000. Renaissance Technologies LLC raised its holdings in SurgePays by 43.6% in the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 15,000 shares in the last quarter. Truvestments Capital LLC raised its holdings in SurgePays by 20.1% in the fourth quarter. Truvestments Capital LLC now owns 102,002 shares of the medical equipment provider’s stock valued at $182,000 after acquiring an additional 17,056 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in SurgePays by 11.3% in the third quarter. Geode Capital Management LLC now owns 148,018 shares of the medical equipment provider’s stock worth $272,000 after acquiring an additional 15,039 shares during the last quarter. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

SurgePays Trading Up 3.8 %

NASDAQ:SURG opened at $3.00 on Thursday. SurgePays, Inc. has a 1 year low of $1.05 and a 1 year high of $4.38. The stock has a market cap of $61.24 million, a P/E ratio of -2.65 and a beta of 0.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.70 and a current ratio of 6.24. The stock has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $1.77.

SurgePays (NASDAQ:SURG) last announced its quarterly earnings results on Tuesday, March 25th. The medical equipment provider reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.66). SurgePays had a negative net margin of 27.39% and a negative return on equity of 55.63%. The business had revenue of $9.59 million during the quarter, compared to analyst estimates of $8.22 million. As a group, analysts anticipate that SurgePays, Inc. will post -1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their price objective on shares of SurgePays from $8.50 to $8.75 and gave the company a “buy” rating in a research report on Tuesday, April 22nd.

SurgePays 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.