Southport Acquisition (NYSE:ANGX) Coverage Initiated by Analysts at B. Riley Financial

B. Riley Financial initiated coverage on shares of Southport Acquisition (NYSE:ANGX) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

ANGX has been the subject of a number of other reports. Maxim Group initiated coverage on Southport Acquisition in a report on Thursday, January 22nd. They set a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Southport Acquisition in a report on Monday, December 29th. Oppenheimer assumed coverage on shares of Southport Acquisition in a report on Thursday, December 18th. They set an “outperform” rating and a $8.00 target price for the company. Wall Street Zen downgraded shares of Southport Acquisition to a “strong sell” rating in a research report on Thursday, November 20th. Finally, Roth Mkm initiated coverage on Southport Acquisition in a report on Tuesday, December 16th. They set a “buy” rating and a $9.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Southport Acquisition presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Southport Acquisition Trading Up 11.7%

ANGX stock opened at $3.64 on Wednesday. The business’s 50-day moving average price is $4.11. The company has a market cap of $613.81 million, a PE ratio of -14.56 and a beta of 0.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.09. Southport Acquisition has a 1 year low of $2.99 and a 1 year high of $20.39.

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.