Southport Acquisition Corp (NYSE:ANGX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Consensus "Moderate Buy": Seven analysts rate ANGX a Moderate Buy (1 sell, 1 hold, 4 buy, 1 strong buy) with an average 1‑year price target of $8.25.
• Shares opened at $4.51 on the report day (up 3.9%), with a market cap of about $760.5M, a 52‑week range of $2.99–$20.39 and a negative P/E of -18.04.
• Southport Acquisition is a SPAC with no significant operations, targeting a merger or acquisition in the financial software space, particularly mortgage and real estate verticals.

Shares of Southport Acquisition Corp (NYSE:ANGX - Get Free Report) have been given an average rating of "Moderate Buy" by the seven analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.25.

ANGX has been the topic of several recent analyst reports. Maxim Group began coverage on shares of Southport Acquisition in a research report on Thursday, January 22nd. They set a "buy" rating and a $9.00 target price on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Southport Acquisition in a research report on Monday, December 29th. Oppenheimer initiated coverage on Southport Acquisition in a report on Thursday, December 18th. They issued an "outperform" rating and a $8.00 price target on the stock. Texas Capital raised Southport Acquisition to a "strong-buy" rating in a research note on Tuesday, February 24th. Finally, Roth Mkm initiated coverage on Southport Acquisition in a report on Tuesday, December 16th. They set a "buy" rating and a $9.00 price objective for the company.

Southport Acquisition Stock Up 3.9%

Shares of ANGX opened at $4.51 on Friday. 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 52-week low of $2.99 and a 52-week high of $20.39. The company has a 50-day moving average of $3.96. The stock has a market cap of $760.52 million, a P/E ratio of -18.04 and a beta of 0.06.

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.

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