Maxim Group Begins Coverage on Southport Acquisition (NYSE:ANGX)

Stock analysts at Maxim Group started coverage on shares of Southport Acquisition (NYSE:ANGX) in a note issued to investors on Thursday. The firm set a “buy” rating and a $9.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 99.12% from the company’s previous close.

ANGX has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Southport Acquisition in a report on Monday, December 29th. Roth Mkm started coverage on Southport Acquisition in a research note on Tuesday, December 16th. They issued a “buy” rating and a $9.00 target price for the company. 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. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a report on Wednesday, December 17th. Finally, Wall Street Zen downgraded shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Southport Acquisition presently has a consensus rating of “Hold” and an average target price of $8.67.

Southport Acquisition Price Performance

ANGX opened at $4.52 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.09 and a quick ratio of 1.07. Southport Acquisition has a one year low of $3.77 and a one year high of $20.39. The stock has a market cap of $762.21 million, a price-to-earnings ratio of -18.08 and a beta of 0.06. The firm’s fifty day moving average price is $4.75.

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.