Flag Ship Acquisition (NASDAQ:FSHP) Stock Price Down 0.6% – Should You Sell?

Flag Ship Acquisition Corporation (NASDAQ:FSHP) shares traded down 0.6% on Monday . The company traded as low as $10.82 and last traded at $10.8350. 1,706 shares changed hands during trading, an increase of 44% from the average session volume of 1,183 shares. The stock had previously closed at $10.90.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flag Ship Acquisition in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Flag Ship Acquisition Price Performance

The firm’s 50-day simple moving average is $10.78 and its 200 day simple moving average is $10.66.

Flag Ship Acquisition (NASDAQ:FSHP) last released its earnings results on Friday, October 31st. The company reported $0.06 earnings per share for the quarter.

Institutional Investors Weigh In On Flag Ship Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Street Group Inc. purchased a new position in shares of Flag Ship Acquisition in the third quarter worth about $77,000. Crossingbridge Advisors LLC bought a new position in Flag Ship Acquisition in the 3rd quarter worth approximately $1,415,000. Wolverine Asset Management LLC grew its stake in Flag Ship Acquisition by 1.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 494,117 shares of the company’s stock valued at $5,203,000 after buying an additional 6,558 shares in the last quarter. Finally, Berkley W R Corp raised its holdings in Flag Ship Acquisition by 2.0% during the 2nd quarter. Berkley W R Corp now owns 658,831 shares of the company’s stock valued at $6,845,000 after acquiring an additional 12,885 shares during the period.

About Flag Ship Acquisition

Flag Ship Acquisition Corporation does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization with one or more businesses. The company intends to acquire businesses in Internet and high technology, financial technology, clean energy, health care, consumer and retail, energy and resources, food processing, manufacturing, and education sectors. Flag Ship Acquisition Corporation was incorporated in 2018 and is based in New York, New York.