Flag Ship Acquisition (NASDAQ:ETHZ) Stock Price Down 2.3% – What’s Next?

Flag Ship Acquisition Corp. (NASDAQ:ETHZ)’s share price dropped 2.3% during mid-day trading on Thursday . The company traded as low as $3.75 and last traded at $3.82. Approximately 419,373 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 594,400 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

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

Flag Ship Acquisition Price Performance

The company has a quick ratio of 10.07, a current ratio of 10.07 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $72.62 million, a P/E ratio of -0.02 and a beta of 1.17. The firm’s 50-day simple moving average is $4.55.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Flag Ship Acquisition stock. DRW Securities LLC bought a new position in Flag Ship Acquisition Corp. (NASDAQ:ETHZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 270,733 shares of the company’s stock, valued at approximately $1,327,000. DRW Securities LLC owned about 1.42% of Flag Ship Acquisition at the end of the most recent quarter. Institutional investors and hedge funds own 4.07% of the company’s stock.

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.