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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Flag Ship Acquisition in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Flag Ship Acquisition Stock Down 7.6%

The firm has a fifty day moving average price of $4.48. 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 stock has a market cap of $67.11 million, a price-to-earnings ratio of -0.02 and a beta of 1.17.

Institutional Inflows and Outflows

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

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.