Southport Acquisition (NYSE:ANGX) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Southport Acquisition from a "strong sell" to a "sell" rating in its latest note to investors.
• Analysts overall maintain a Moderate Buy consensus with an average price target of $8.25, reflecting a mix of 1 Strong Buy, 4 Buy, 1 Hold and 1 Sell ratings.
• Shares trade around $3.10 (market cap ≈ $526M); the company is a SPAC with no significant operations, targeting a financial-software merger in the mortgage and real estate verticals.

Southport Acquisition (NYSE:ANGX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday.

Several other equities research analysts have also commented on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Southport Acquisition in a report on Friday, March 27th. Texas Capital upgraded shares of Southport Acquisition to a "strong-buy" rating in a report on Tuesday, February 24th. B. Riley Financial assumed coverage on shares of Southport Acquisition in a report on Wednesday, February 25th. They issued a "buy" rating and a $7.00 price target for the company. Finally, Maxim Group assumed coverage on shares of Southport Acquisition in a report on Thursday, January 22nd. They issued a "buy" rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Southport Acquisition has an average rating of "Moderate Buy" and an average target price of $8.25.

Southport Acquisition Price Performance

Shares of ANGX opened at $3.10 on Friday. 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 company has a market cap of $526.16 million, a price-to-earnings ratio of -4.63 and a beta of 0.04. The firm's 50-day moving average is $3.21. Southport Acquisition has a 1-year low of $2.05 and a 1-year high of $20.39.

Southport Acquisition (NYSE:ANGX - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $999.00 EPS for the quarter, beating the consensus estimate of ($0.11) by $999.11. On average, equities analysts anticipate that Southport Acquisition will post -0.41 earnings per share for the current fiscal year.

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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