Southport Acquisition (NYSE:ANGX) Posts Earnings Results, Misses Estimates By $0.21 EPS

Southport Acquisition (NYSE:ANGX) announced its earnings results on Thursday. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.21), Zacks reports. The business had revenue of $109.93 million for the quarter, compared to analysts’ expectations of $95.30 million.

Southport Acquisition Stock Performance

Shares of Southport Acquisition stock traded down $0.66 during trading on Friday, reaching $3.80. 1,173,534 shares of the company’s stock were exchanged, compared to its average volume of 741,218. The company has a 50-day simple moving average of $3.96. The stock has a market cap of $640.79 million, a P/E ratio of -15.20 and a beta of 0.06. 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 1-year low of $2.99 and a 1-year high of $20.39.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research raised Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. Texas Capital raised shares of Southport Acquisition to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Roth Mkm initiated coverage on Southport Acquisition in a research report on Tuesday, December 16th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Oppenheimer began coverage on Southport Acquisition in a research note on Thursday, December 18th. They set an “outperform” rating and a $8.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Southport Acquisition presently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

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.