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

Southport Acquisition Corp (NYSE:ANGX)’s stock price fell 3.2% during trading on Monday . The stock traded as low as $5.21 and last traded at $5.22. 153,182 shares were traded during trading, a decline of 86% from the average session volume of 1,104,977 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

ANGX has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 15th. Oppenheimer began coverage on shares of Southport Acquisition in a research note on Thursday. They issued an “outperform” rating and a $8.00 price objective on the stock. Zacks Research upgraded shares of Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. Wall Street Zen downgraded shares of Southport Acquisition to a “strong sell” rating in a report on Thursday, November 20th. Finally, Roth Capital began coverage on shares of Southport Acquisition in a research note on Tuesday, December 16th. They set a “buy” rating and a $9.00 price objective for the company. Two 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. Based on data from MarketBeat.com, Southport Acquisition has an average rating of “Hold” and a consensus target price of $8.50.

Southport Acquisition Trading Down 2.8%

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.