Southport Acquisition (NYSE:ANGX) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Southport Acquisition (NYSE:ANGX) released its quarterly earnings data on Thursday. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21), Zacks reports. The firm had revenue of $109.93 million during the quarter, compared to analysts’ expectations of $95.30 million.

Southport Acquisition Stock Down 14.9%

NYSE ANGX traded down $0.67 during trading on Friday, hitting $3.79. 1,040,408 shares of the stock traded hands, compared to its average volume of 738,874. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.12. Southport Acquisition has a 12-month low of $2.99 and a 12-month high of $20.39. The company has a 50-day moving average of $3.96. The firm has a market capitalization of $639.78 million, a P/E ratio of -15.16 and a beta of 0.06.

Wall Street Analysts Forecast Growth

ANGX has been the topic of several recent analyst reports. Wall Street Zen downgraded Southport Acquisition to a “strong sell” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Southport Acquisition in a research report on Monday, December 29th. Roth Mkm began coverage on shares of Southport Acquisition in a report on Tuesday, December 16th. They issued a “buy” rating and a $9.00 target price on the stock. Zacks Research raised shares of Southport Acquisition to a “hold” rating in a research note on Wednesday, December 17th. Finally, B. Riley Financial began coverage on shares of Southport Acquisition in a report on Wednesday, February 25th. They issued a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.25.

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.