Flag Ship Acquisition (NASDAQ:ETHZ) Trading Down 8.2% – Should You Sell?

Shares of Flag Ship Acquisition Corp. (NASDAQ:ETHZ) dropped 8.2% on Wednesday . The stock traded as low as $3.48 and last traded at $3.48. Approximately 896,492 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 520,585 shares. The stock had previously closed at $3.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Flag Ship Acquisition in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Flag Ship Acquisition has an average rating of “Sell”.

Flag Ship Acquisition Stock Performance

The stock has a market capitalization of $66.15 million, a P/E ratio of -0.02 and a beta of 1.17. The company has a current ratio of 10.07, a quick ratio of 10.07 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $6.44.

Flag Ship Acquisition (NASDAQ:ETHZ) last released its quarterly earnings data on Friday, November 14th. The company reported ($16.80) earnings per share for the quarter. The company had revenue of $4.11 million during the quarter.

Flag Ship Acquisition Company Profile

1180 Life Sciences Corp., a clinical-stage biotechnology company, develops therapeutics for unmet medical needs in chronic pain, inflammation, fibrosis, and other inflammatory diseases. Its product development platforms include fibrosis and anti-tumor necrosis factor (anti-TNF) platform, which is under Phase IIb clinical trials that focuses on fibrosis and Anti-TNF; Synthetic Cannabidiol (CBD) Analogs platform, which is under preclinical trials that are man-made derivatives of CBD; and a7nAChR platform, an immune suppressive, which is under preclinical trails that focuses on alpha 7 nicotinic acetylcholine receptor.