Southport Acquisition (NYSE:ANGX) Announces Earnings Results

Southport Acquisition (NYSE:ANGX) announced its earnings results on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.21), Zacks reports. The business had revenue of $109.93 million during the quarter, compared to analyst estimates of $95.30 million.

Southport Acquisition Stock Down 14.9%

NYSE:ANGX traded down $0.67 during trading hours on Friday, hitting $3.79. 1,040,408 shares of the stock traded hands, compared to its average volume of 738,874. The stock has a market capitalization of $639.78 million, a P/E ratio of -15.16 and a beta of 0.06. Southport Acquisition has a 1 year low of $2.99 and a 1 year high of $20.39. The firm has a 50 day moving average of $3.96. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

Analyst Ratings Changes

ANGX has been the topic of several recent research reports. Texas Capital upgraded shares of Southport Acquisition to a “strong-buy” rating in a research note on Tuesday, February 24th. Maxim Group initiated coverage on shares of Southport Acquisition in a research report on Thursday, January 22nd. They set a “buy” rating and a $9.00 target price for the company. B. Riley Financial initiated coverage on shares of Southport Acquisition in a research report on Wednesday, February 25th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen cut shares of Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Finally, Roth Mkm started coverage on shares of Southport Acquisition in a research report on Tuesday, December 16th. They set a “buy” rating and a $9.00 price objective 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 issued a Sell rating to the stock. Based on data from MarketBeat, Southport Acquisition presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

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.