Southport Acquisition (NYSE:ANGX) Trading 14.5% Higher – What’s Next?

Southport Acquisition Corp (NYSE:ANGX) shares traded up 14.5% during mid-day trading on Friday . The stock traded as high as $3.48 and last traded at $3.47. 474,785 shares were traded during trading, a decline of 34% from the average session volume of 717,992 shares. The stock had previously closed at $3.03.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ANGX shares. Roth Mkm began coverage on Southport Acquisition in a research note on Tuesday, December 16th. They issued a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Maxim Group assumed coverage on shares of Southport Acquisition in a research report on Thursday, January 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Finally, Oppenheimer assumed coverage on Southport Acquisition in a research note on Thursday, December 18th. They set an “outperform” rating and a $8.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.67.

Southport Acquisition Trading Up 12.5%

The stock has a market capitalization of $575.03 million, a price-to-earnings ratio of -13.64 and a beta of 0.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.09. The company has a 50-day simple moving average of $4.55.

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.