Brokerages Set Southport Acquisition Corp (NYSE:ANGX) PT at $8.25

Shares of Southport Acquisition Corp (NYSE:ANGX) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.25.

A number of brokerages have recently weighed in on ANGX. Roth Mkm started coverage on Southport Acquisition in a research note on Tuesday, December 16th. They issued a “buy” rating and a $9.00 price objective for the company. Maxim Group started coverage on shares of Southport Acquisition in a report on Thursday, January 22nd. They set a “buy” rating and a $9.00 price target for the company. Zacks Research upgraded Southport Acquisition to a “hold” rating in a report on Wednesday, December 17th. Oppenheimer initiated coverage on shares of Southport Acquisition in a research report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 target price on the stock. Finally, B. Riley Financial started coverage on Southport Acquisition in a research note on Wednesday, February 25th. They set a “buy” rating and a $7.00 price target on the stock.

Southport Acquisition Stock Down 9.5%

ANGX stock opened at $3.49 on Friday. The stock’s fifty day simple moving average is $3.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.61 and a current ratio of 0.62. The firm has a market capitalization of $587.68 million, a PE ratio of -13.94 and a beta of 0.06. Southport Acquisition has a 52-week low of $2.99 and a 52-week high of $20.39.

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

Southport Acquisition Company Profile

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.