Southport Acquisition Corp (NYSE:ANGX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Southport Acquisition Corp (NYSE:ANGX) have been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.6667.

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

Southport Acquisition Trading Down 3.1%

NYSE ANGX opened at $4.05 on Thursday. The firm has a market cap of $682.95 million, a P/E ratio of -16.20 and a beta of 0.06. The company has a fifty day simple moving average of $4.70. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. Southport Acquisition has a 12-month low of $3.77 and a 12-month high of $20.39.

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.