Flag Ship Acquisition (NASDAQ:FSHP) Trading Down 0.1% – Time to Sell?

Flag Ship Acquisition Corporation (NASDAQ:FSHP) shares dropped 0.1% on Thursday . The company traded as low as $11.09 and last traded at $11.0050. Approximately 8 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 39,371 shares. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Flag Ship Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Flag Ship Acquisition Price Performance

The company has a 50-day moving average price of $11.03 and a 200 day moving average price of $10.90.

Flag Ship Acquisition (NASDAQ:FSHP) last released its quarterly earnings data on Friday, May 29th. The company reported $0.05 earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossingbridge Advisors LLC purchased a new stake in Flag Ship Acquisition during the 3rd quarter valued at approximately $1,415,000. Berkley W R Corp lifted its holdings in shares of Flag Ship Acquisition by 8.4% in the first quarter. Berkley W R Corp now owns 434,420 shares of the company’s stock worth $4,748,000 after buying an additional 33,482 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Flag Ship Acquisition in the fourth quarter worth $37,000. Finally, Clear Street Group Inc. purchased a new position in shares of Flag Ship Acquisition in the third quarter worth $77,000.

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.