Flag Ship Acquisition (NASDAQ:ETHZ) Stock Price Down 1% – Here’s Why

Shares of Flag Ship Acquisition Corp. (NASDAQ:ETHZ) fell 1% during trading on Friday . The stock traded as low as $5.87 and last traded at $5.90. 221,338 shares changed hands during trading, a decline of 97% from the average session volume of 6,436,919 shares. The stock had previously closed at $5.96.

Flag Ship Acquisition Stock Performance

The firm has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $4.24. The firm has a market cap of $113.31 million, a price-to-earnings ratio of -0.04 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 10.07 and a quick ratio of 10.07.

Institutional Investors Weigh In On Flag Ship Acquisition

A hedge fund recently bought a new position in Flag Ship Acquisition stock. DRW Securities LLC bought a new position in shares of Flag Ship Acquisition Corp. (NASDAQ:ETHZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 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.