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

Stock analysts at Maxim Group started coverage on shares of Southport Acquisition (NYSE:ANGX) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 109.30% from the company’s previous close.

Several other research firms have also issued reports on ANGX. Wall Street Zen lowered Southport Acquisition to a “strong sell” rating in a research report on Thursday, November 20th. Roth Mkm assumed coverage on shares of Southport Acquisition in a research note on Tuesday, December 16th. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a report on Monday, December 29th. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. Finally, Oppenheimer began coverage on shares of Southport Acquisition in a report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 target price on the stock. Three equities research 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. Based on data from MarketBeat.com, Southport Acquisition has a consensus rating of “Hold” and a consensus target price of $8.67.

Southport Acquisition Stock Down 5.5%

Shares of Southport Acquisition stock opened at $4.30 on Thursday. The company has a 50-day moving average price of $4.73. Southport Acquisition has a fifty-two week low of $3.77 and a fifty-two week high of $20.39. The company has a market capitalization of $725.11 million, a price-to-earnings ratio of -17.20 and a beta of 0.06. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.09.

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.