Southport Acquisition (NYSE:ANGX) Reaches New 12-Month Low – Should You Sell?

Shares of Southport Acquisition Corp (NYSE:ANGX) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.91 and last traded at $3.02, with a volume of 318553 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ANGX shares. 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. B. Riley Financial started coverage on shares of Southport Acquisition in a research report on Wednesday, February 25th. They issued a “buy” rating and a $7.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Southport Acquisition in a report on Friday. Zacks Research upgraded Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Finally, Texas Capital raised Southport Acquisition to a “strong-buy” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Southport Acquisition currently has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Southport Acquisition Stock Down 0.3%

The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $515.31 million, a P/E ratio of -4.54 and a beta of 0.06. The company’s 50 day moving average price is $3.69.

Southport Acquisition (NYSE:ANGX) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The company had revenue of $109.93 million during the quarter, compared to the consensus estimate of $95.30 million.

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.