Southport Acquisition (NYSE:ANGX) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Southport Acquisition (NYSE:ANGX) released its quarterly earnings data on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.21), Zacks reports. The firm had revenue of $109.93 million for the quarter, compared to the consensus estimate of $95.30 million.

Southport Acquisition Price Performance

Shares of ANGX stock opened at $3.70 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.09 and a quick ratio of 1.07. The business has a fifty day moving average price of $3.94. The firm has a market cap of $623.09 million, a price-to-earnings ratio of -14.78 and a beta of 0.06. Southport Acquisition has a 12 month low of $2.99 and a 12 month high of $20.39.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 target price on the stock. Zacks Research raised Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. B. Riley Financial initiated coverage on Southport Acquisition in a research note on Wednesday, February 25th. They set a “buy” rating and a $7.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 29th. Finally, Oppenheimer began coverage on Southport Acquisition in a research note on Thursday, December 18th. They issued an “outperform” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.25.

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.