SurgePays, Inc. (NASDAQ:SURG – Get Free Report) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 365,800 shares, a decrease of 12.7% from the January 31st total of 419,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 505,300 shares, the days-to-cover ratio is presently 0.7 days.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets reduced their target price on shares of SurgePays from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, December 16th.
Get Our Latest Report on SurgePays
SurgePays Stock Up 4.1 %
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of SURG. Virtu Financial LLC purchased a new stake in shares of SurgePays in the third quarter valued at about $25,000. Royce & Associates LP purchased a new stake in SurgePays during the third quarter worth about $34,000. Corsair Capital Management L.P. increased its holdings in SurgePays by 50.3% during the third quarter. Corsair Capital Management L.P. now owns 29,864 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 10,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in SurgePays during the fourth quarter worth about $53,000. Finally, Jane Street Group LLC purchased a new stake in SurgePays during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 6.94% 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.
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