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

B. Riley Financial initiated coverage on shares of Southport Acquisition (NYSE:ANGX) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. B. Riley Financial’s price target suggests a potential upside of 114.72% from the stock’s current price.

Several other analysts have also weighed in on the company. Maxim Group began coverage on Southport Acquisition in a research note on Thursday, January 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Oppenheimer started coverage on Southport Acquisition in a research note on Thursday, December 18th. They issued an “outperform” rating and a $8.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 29th. Wall Street Zen lowered shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Finally, Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Southport Acquisition presently has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Southport Acquisition Stock Down 1.2%

Shares of Southport Acquisition stock opened at $3.26 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.09 and a quick ratio of 1.07. The firm has a market capitalization of $549.73 million, a P/E ratio of -13.04 and a beta of 0.05. The business’s 50-day moving average price is $4.14. Southport Acquisition has a 12-month low of $2.99 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.