Surgepays Inc (NASDAQ: SURG) stock jumped 10.47% on Friday to $5.91 against a previous-day closing price of $5.35. With 0.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.12 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $5.94 whereas the lowest price it dropped to was $5.45. The 52-week range on SURG shows that it touched its highest point at $8.33 and its lowest point at $3.88 during that stretch. It currently has a 1-year price target of $13.00. Beta for the stock currently stands at 1.52.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SURG was up-trending over the past week, with a rise of 13.87%, but this was up by 26.82% over a month. Three-month performance surged to 15.43% while six-month performance fell -4.06%. The stock gained 16.11% in the past year, while it has lost -9.91% so far this year. A look at the trailing 12-month EPS for SURG yields 1.41 with Next year EPS estimates of 1.74. For the next quarter, that number is 0.34. This implies an EPS growth rate of 2860.00% for this year and 25.72% for next year.
Float and Shares Shorts:
At present, 14.12 million SURG shares are outstanding with a float of 8.52 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.5 million, which was 10.52% higher than short shares on Sep 28, 2023. In addition to Mr. Kevin Brian Cox as the firm’s Chairman & CEO, Mr. Anthony George Evers CPA, CIA, CPA serves as its CFO & Acting COO.
Through their ownership of 12.32% of SURG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.69% of SURG, in contrast to 40.09% held by mutual funds. Shares owned by individuals account for 4.93%. As the largest shareholder in SURG with 3.29% of the stake, The Vanguard Group, Inc. holds 468,685 shares worth 468,685. A second-largest stockholder of SURG, PRAETORIAN PR LLC, holds 450,000 shares, controlling over 3.16% of the firm’s shares. Myda Advisors LLC is the third largest shareholder in SURG, holding 244,267 shares or 1.72% stake. With a 2.43% stake in SURG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 345,312 shares are owned by the mutual fund manager. The Bridgeway Ultra Small Company Fun, which owns about 0.80% of SURG stock, is the second-largest Mutual Fund holder. It holds 113,158 shares valued at 0.49 million. Vanguard Extended Market Index Fu holds 0.78% of the stake in SURG, owning 110,873 shares worth 0.48 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SURG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SURG analysts setting a high price target of $15.00 and a low target of $11.00, the average target price over the next 12 months is $13.00. Based on these targets, SURG could surge 153.81% to reach the target high and rise by 86.13% to reach the target low. Reaching the average price target will result in a growth of 119.97% from current levels.
Summary of Insider Activity:
Insiders traded SURG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,150,200 while 0 shares were sold.