Flag Ship Acquisition (NASDAQ:ETHZ) Stock Price Down 2.3% – Here’s Why

Flag Ship Acquisition Corp. (NASDAQ:ETHZ) shares traded down 2.3% on Thursday . The company traded as low as $3.75 and last traded at $3.82. 419,373 shares were traded during trading, a decline of 29% from the average session volume of 594,400 shares. The stock had previously closed at $3.91.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Flag Ship Acquisition in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Flag Ship Acquisition has a consensus rating of “Sell”.

Flag Ship Acquisition Price Performance

The business has a 50-day moving average of $4.55. The firm has a market cap of $72.62 million, a price-to-earnings ratio of -0.02 and a beta of 1.17. The company has a quick ratio of 10.07, a current ratio of 10.07 and a debt-to-equity ratio of 1.11.

Institutional Trading of Flag Ship Acquisition

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

About Flag Ship Acquisition

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.