Southport Acquisition (NYSE:ANGX) Stock Rating Upgraded by Texas Capital

Southport Acquisition (NYSE:ANGX) was upgraded by stock analysts at Texas Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on ANGX. Wall Street Zen downgraded shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Zacks Research upgraded Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Oppenheimer began coverage on Southport Acquisition in a report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 price target for the company. Roth Mkm started coverage on shares of Southport Acquisition in a research note on Tuesday, December 16th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, B. Riley Financial started coverage on shares of Southport Acquisition in a research report on Wednesday. They set a “buy” rating and a $7.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Southport Acquisition has an average rating of “Moderate Buy” and an average target price of $8.25.

Southport Acquisition Stock Up 11.7%

NYSE ANGX opened at $3.64 on Tuesday. Southport Acquisition has a 52 week low of $2.99 and a 52 week high of $20.39. The business’s 50 day moving average price is $4.11. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.12. The firm has a market cap of $613.81 million, a PE ratio of -14.56 and a beta of 0.05.

About Southport Acquisition

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify business opportunities in the field of financial software space with a focus on mortgage and real estate verticals. The company was incorporated in 2021 and is based in Del Mar, California.