Southport Acquisition Corp (NYSE:ANGX - Get Free Report) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $2.57, but opened at $2.82. Southport Acquisition shares last traded at $2.9660, with a volume of 1,035,085 shares trading hands.
The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $999.11.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Maxim Group initiated coverage on shares of Southport Acquisition in a report on Thursday, January 22nd. They issued a "buy" rating and a $9.00 target price for the company. Texas Capital raised Southport Acquisition to a "strong-buy" rating in a report on Tuesday, February 24th. B. Riley Financial started coverage on Southport Acquisition in a research report on Wednesday, February 25th. They issued a "buy" rating and a $7.00 target price for the company. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Southport Acquisition in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.
Check Out Our Latest Analysis on ANGX
Southport Acquisition Price Performance
The company has a market cap of $506.50 million, a price-to-earnings ratio of -4.43 and a beta of 0.22. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.62 and a quick ratio of 0.61. The stock's fifty day simple moving average is $3.21.
Southport Acquisition Company Profile
(
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.
Further Reading
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