A share of SurgePays Inc. (NASDAQ:SURG) closed at $6.05 per share on Wednesday, up from $5.83 day before. While SurgePays Inc. has overperformed by 3.77%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SURG rose by 172.52%, with highs and lows ranging from $7.30 to $1.76, whereas the simple moving average jumped by 32.24% in the last 200 days.
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Analysis of SurgePays Inc. (SURG)
Further, the quarter-over-quarter increase in sales is 149.70%, showing a positive trend in the upcoming months.
SurgePays Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. Taking into account the quick ratio of the company, currently set at 0.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and SURG is registering an average volume of 116.49K. On a monthly basis, the volatility of the stock is set at 8.34%, whereas on a weekly basis, it is put at 8.73%, with a gain of 18.86% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.38, showing growth from the present price of $6.05, which can serve as yet another indication of whether SURG is worth investing in or should be passed over.
How Do You Analyze SurgePays Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 27.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 8.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SURG shares?
The recent increase in stakes in SURG appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in SURG has increased by 33.18% in the first quarter. The company now owns 404,835 shares of the stock, with a value of $2.24 million, following the purchase of 100,866 additional shares during the last quarter. EAM Investors LLC made another decreased to its shares in SURG during the first quarter, downing its stake by -14.31%. During the last quarter, the company picked up -39,982 additional shares for a total stake of worth $1.32 million, bringing number of shares owned by the company to 239,508.
SURG shares are owned by institutional investors to the tune of 8.20% at present.