Southport Acquisition (NYSE:ANGX) Rating Increased to Strong-Buy at Texas Capital

Texas Capital upgraded shares of Southport Acquisition (NYSE:ANGX) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on ANGX. Maxim Group started coverage on Southport Acquisition in a report on Thursday, January 22nd. They set a “buy” rating and a $9.00 price target on the stock. Roth Mkm started coverage on shares of Southport Acquisition in a research note on Tuesday, December 16th. They set a “buy” rating and a $9.00 target price on the stock. Wall Street Zen cut shares of Southport Acquisition to a “strong sell” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Finally, Oppenheimer initiated coverage on shares of Southport Acquisition in a research report on Thursday, December 18th. They set an “outperform” rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Southport Acquisition currently has an average rating of “Moderate Buy” and an average price target of $8.25.

Southport Acquisition Price Performance

Shares of Southport Acquisition stock opened at $3.64 on Tuesday. The company’s 50-day simple moving average is $4.11. Southport Acquisition has a one year low of $2.99 and a one year high of $20.39. The company has a market cap of $613.81 million, a price-to-earnings ratio of -14.56 and a beta of 0.05. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

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.