Flag Ship Acquisition Corporation (NASDAQ:FSHP) Short Interest Up 127.1% in August

Flag Ship Acquisition Corporation (NASDAQ:FSHP) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,133 shares, a growth of 127.1% from the August 15th total of 499 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,032 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Flag Ship Acquisition in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Insider Buying and Selling at Flag Ship Acquisition

In other news, major shareholder Mizuho Securities Usa Llc sold 85,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $11.23, for a total value of $954,550.00. Following the transaction, the insider directly owned 315,000 shares of the company’s stock, valued at approximately $3,537,450. This trade represents a 21.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 39.06% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Flag Ship Acquisition stock. Berkley W R Corp raised its holdings in Flag Ship Acquisition Corporation (NASDAQ:FSHP) by 8.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 434,420 shares of the company’s stock after purchasing an additional 33,482 shares during the quarter. Berkley W R Corp owned 8.64% of Flag Ship Acquisition worth $4,748,000 as of its most recent SEC filing.

Flag Ship Acquisition Stock Performance

NASDAQ:FSHP traded down $0.19 on Tuesday, hitting $11.36. The stock had a trading volume of 6,942 shares, compared to its average volume of 15,517. The company has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $11.09. Flag Ship Acquisition has a 1-year low of $10.53 and a 1-year high of $12.00.

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.