Southport Acquisition Co. (NYSE:PORT) Sees Large Growth in Short Interest

Key Points

• Southport Acquisition Co. experienced a significant increase in short interest, rising by 300% from 100 shares to 400 shares in July.
• The company's stock price reached $13.00 during trading, with a 52-week range between $10.80 and $20.00.
• Southport Acquisition focuses on mergers and acquisitions in the financial software sector, particularly in the mortgage and real estate industries in the U.S.

Southport Acquisition Co. (NYSE:PORT - ) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 400 shares, agrowthof300.0% from the July 15th total of 100 shares. Based on an average daily trading volume, of 600 shares, the days-to-cover ratio is presently 0.7 days. Approximately0.0% of the shares of the company are sold short. Approximately0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 600 shares, the days-to-cover ratio is presently 0.7 days.

Southport Acquisition Price Performance

Southport Acquisition stock traded up $0.65 during mid-day trading on Friday, reaching $13.00. The company had a trading volume of 2,081 shares, compared to its average volume of 1,919. Southport Acquisition has a 52 week low of $10.80 and a 52 week high of $20.00. The company has a 50 day moving average of $12.16 and a 200-day moving average of $11.73.

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 acquire businesses in the field of financial software with a focus on mortgage and real estate verticals in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.