Southport Acquisition Corp (NYSE:ANGX) Given Average Recommendation of “Moderate Buy” by Brokerages

Southport Acquisition Corp (NYSE:ANGX) has earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.25.

ANGX has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Oppenheimer assumed coverage on Southport Acquisition in a research note on Thursday, December 18th. They issued an “outperform” rating and a $8.00 target price on the stock. Maxim Group initiated coverage on Southport Acquisition in a report on Thursday, January 22nd. They issued a “buy” rating and a $9.00 price target on the stock. Wall Street Zen lowered Southport Acquisition to a “strong sell” rating in a report on Thursday, November 20th. Finally, Zacks Research upgraded shares of Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th.

Southport Acquisition Trading Down 8.5%

Southport Acquisition stock opened at $3.03 on Friday. Southport Acquisition has a 1-year low of $2.99 and a 1-year high of $20.39. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.12. The company has a market cap of $510.78 million, a price-to-earnings ratio of -4.52 and a beta of 0.06. The business’s 50 day moving average price is $3.87.

Southport Acquisition (NYSE:ANGX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The business had revenue of $109.93 million for the quarter, compared to analysts’ expectations of $95.30 million.

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.