Southport Acquisition (NYSE:ANGX) Stock Price Up 6.1% – Here’s What Happened

by · The Markets Daily

Shares of Southport Acquisition Corp (NYSE:ANGX – Get Free Report) traded up 6.1% on Friday . The stock traded as high as $4.55 and last traded at $4.53. 450,008 shares were traded during mid-day trading, a decline of 39% from the average session volume of 736,467 shares. The stock had previously closed at $4.27.

Analyst Upgrades and Downgrades

ANGX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 29th. Maxim Group began coverage on Southport Acquisition in a research note on Thursday, January 22nd. They issued a “buy” rating and a $9.00 target price for the company. Texas Capital raised shares of Southport Acquisition to a “strong-buy” rating in a report on Tuesday, February 24th. Oppenheimer started coverage on Southport Acquisition in a research note on Thursday, December 18th. They set an “outperform” rating and a $8.00 target price on the stock. Finally, Wall Street Zen lowered shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.25.

Check Out Our Latest Research Report on Southport Acquisition

Southport Acquisition Stock Performance

The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.09. The stock has a market capitalization of $750.40 million, a PE ratio of -17.80 and a beta of 0.06. The business has a 50 day moving average of $3.99.

About Southport Acquisition

(Get Free Report)

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.

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