Southport Acquisition (NYSE:ANGX) Stock Price Up 5.3% – What’s Next?

Southport Acquisition Corp (NYSE:ANGX) shares rose 5.3% during mid-day trading on Monday . The company traded as high as $5.39 and last traded at $5.34. Approximately 354,663 shares traded hands during trading, a decline of 66% from the average daily volume of 1,030,322 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Roth Capital assumed coverage on Southport Acquisition in a research report on Tuesday. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.00.

Southport Acquisition Trading Down 4.0%

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.