Southport Acquisition (NYSE:ANGX) Trading Down 3.2% – Should You Sell?

Southport Acquisition Corp (NYSE:ANGX) shares were down 3.2% on Tuesday . The stock traded as low as $3.72 and last traded at $3.7250. Approximately 153,399 shares traded hands during trading, a decline of 79% from the average daily volume of 739,704 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ANGX shares. Texas Capital upgraded shares of Southport Acquisition to a “strong-buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a report on Monday, December 29th. B. Riley Financial initiated coverage on Southport Acquisition in a report on Wednesday, February 25th. They set a “buy” rating and a $7.00 price objective for the company. Maxim Group assumed coverage on Southport Acquisition in a research report on Thursday, January 22nd. They issued a “buy” rating and a $9.00 target price for the company. Finally, Wall Street Zen downgraded Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Southport Acquisition presently has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Southport Acquisition Stock Performance

The stock’s 50 day moving average is $3.93. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.12. The firm has a market cap of $596.44 million, a price-to-earnings ratio of -14.22 and a beta of 0.06.

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