Southport Acquisition Corp (NYSE:ANGX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Southport Acquisition Corp (NYSE:ANGX) have received an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.6667.

A number of research firms recently issued reports on ANGX. Zacks Research upgraded Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Roth Mkm assumed coverage on Southport Acquisition in a report on Tuesday, December 16th. They issued a “buy” rating and a $9.00 price objective for the company. Wall Street Zen lowered shares of Southport Acquisition to a “strong sell” rating in a research report on Thursday, November 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 29th. Finally, Maxim Group initiated coverage on shares of Southport Acquisition in a research note on Thursday, January 22nd. They set a “buy” rating and a $9.00 price target for the company.

Southport Acquisition Stock Performance

ANGX opened at $3.27 on Monday. The business’s 50-day moving average price is $4.39. 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 $2.99 and a one year high of $20.39. The firm has a market capitalization of $551.42 million, a PE ratio of -13.08 and a beta of 0.05.

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.