Southport Acquisition Corp (NYSE:ANGX) Receives $8.25 Average Price Target from Brokerages

Southport Acquisition Corp (NYSE:ANGX) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.25.

A number of research firms have recently weighed in on ANGX. Wall Street Zen lowered shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Maxim Group initiated coverage on shares of Southport Acquisition in a research report on Thursday, January 22nd. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a report on Monday, December 29th. Oppenheimer started coverage on Southport Acquisition in a research report on Thursday, December 18th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Roth Mkm started coverage on Southport Acquisition in a research note on Tuesday, December 16th. They set a “buy” rating and a $9.00 price objective for the company.

Southport Acquisition Stock Down 17.2%

Shares of NYSE ANGX opened at $3.70 on Friday. Southport Acquisition has a 52 week low of $2.99 and a 52 week high of $20.39. The firm has a 50 day moving average price of $3.94. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $623.09 million, a price-to-earnings ratio of -14.78 and a beta of 0.06.

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