Texas Capital Upgrades Southport Acquisition (NYSE:ANGX) to Strong-Buy

Southport Acquisition (NYSE:ANGX) was upgraded by research analysts at Texas Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research report on Wednesday, December 17th. Oppenheimer assumed coverage on shares of Southport Acquisition in a report on Thursday, December 18th. They issued an “outperform” rating and a $8.00 price objective on the stock. Roth Mkm initiated coverage on shares of Southport Acquisition in a report on Tuesday, December 16th. They issued a “buy” rating and a $9.00 target price for the company. B. Riley Financial initiated coverage on Southport Acquisition in a research report on Wednesday. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Maxim Group initiated coverage on Southport Acquisition in a research note on Thursday, January 22nd. They issued a “buy” rating and a $9.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Southport Acquisition currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Southport Acquisition Stock Up 11.7%

Shares of Southport Acquisition stock opened at $3.64 on Tuesday. The firm 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. Southport Acquisition has a 52 week low of $2.99 and a 52 week high of $20.39. The company has a fifty day simple moving average of $4.11.

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.