Southport Acquisition Corp (NYSE:ANGX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Southport Acquisition Corp (NYSE:ANGX) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.25.

A number of research analysts recently issued reports on ANGX shares. Zacks Research upgraded shares of Southport Acquisition to a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Southport Acquisition in a report on Friday, March 27th. Oppenheimer started coverage on shares of Southport Acquisition in a report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 price objective for the company. Texas Capital upgraded shares of Southport Acquisition to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, B. Riley Financial started coverage on shares of Southport Acquisition in a report on Wednesday, February 25th. They issued a “buy” rating and a $7.00 price objective for the company.

Southport Acquisition Trading Up 0.5%

ANGX stock opened at $3.00 on Tuesday. The company has a market capitalization of $509.21 million, a PE ratio of -4.48 and a beta of 0.22. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.62 and a quick ratio of 0.61. Southport Acquisition has a 12 month low of $2.88 and a 12 month high of $20.39. The business has a 50-day moving average of $3.58.

Southport Acquisition (NYSE:ANGX) last posted its earnings results on Thursday, March 12th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The firm 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.