Southport Acquisition (NYSE:ANGX) Shares Down 3.2% – Here’s Why

Southport Acquisition Corp (NYSE:ANGX) shares traded down 3.2% on Monday . The company traded as low as $5.21 and last traded at $5.22. 153,182 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,104,977 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ANGX shares. Roth Capital started coverage on Southport Acquisition in a report on Tuesday, December 16th. They issued a “buy” rating and a $9.00 price target for the company. Wall Street Zen lowered shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 15th. Finally, Oppenheimer initiated coverage on Southport Acquisition in a research report on Thursday. They set an “outperform” rating and a $8.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.50.

Southport Acquisition Price Performance

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 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.