Southport Acquisition Corp (NYSE:ANGX - Get Free Report)'s share price shot up 6% on Wednesday . The company traded as high as $2.57 and last traded at $2.5650. 1,420,066 shares were traded during trading, an increase of 33% from the average session volume of 1,063,873 shares. The stock had previously closed at $2.42.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ANGX. B. Riley Financial began coverage on shares of Southport Acquisition in a research report on Wednesday, February 25th. They set a "buy" rating and a $7.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Southport Acquisition in a research report on Friday, March 27th. 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 price objective on the stock. Finally, Texas Capital upgraded shares of Southport Acquisition to a "strong-buy" rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.25.
Read Our Latest Research Report on Southport Acquisition
Southport Acquisition Stock Up 6.0%
The firm has a market capitalization of $434.79 million, a price-to-earnings ratio of -3.83 and a beta of 0.22. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.12. The business's fifty day moving average is $3.23.
Southport Acquisition (NYSE:ANGX - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.21). The business had revenue of $109.93 million for the quarter, compared to analyst estimates of $95.30 million. On average, analysts predict that Southport Acquisition Corp will post -0.41 EPS for the current year.
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.
Further Reading
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