Southport Acquisition (NYSE:ANGX) Now Covered by B. Riley Financial

B. Riley Financial assumed coverage on shares of Southport Acquisition (NYSE:ANGX) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. B. Riley Financial’s price target would suggest a potential upside of 114.72% from the stock’s current price.

ANGX has been the topic of a number of other reports. Oppenheimer started coverage on shares of Southport Acquisition in a report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Zacks Research upgraded Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Maxim Group began coverage on Southport Acquisition in a report on Thursday, January 22nd. They set a “buy” rating and a $9.00 target price on the stock. Finally, Wall Street Zen downgraded Southport Acquisition to a “strong sell” rating in a report on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Southport Acquisition Trading Down 1.2%

Shares of ANGX opened at $3.26 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.09. The stock’s fifty day moving average price is $4.14. Southport Acquisition has a 1-year low of $2.99 and a 1-year high of $20.39. The firm has a market capitalization of $549.73 million, a P/E ratio of -13.04 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.