Flag Ship Acquisition (NASDAQ:ETHZ) Shares Up 13.9% - What's Next?

Key Points

• Shares of Flag Ship Acquisition (NASDAQ:ETHZ) jumped 13.9%, trading as high as $4.65 and last at $4.60 on a midday volume of 2,565,043 shares, roughly 60% below its average daily volume.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a "Sell (e+)" and the stock's MarketBeat average rating is Sell.
• Institutional activity included DRW Securities buying 270,733 shares (~$1.33M) in Q4, giving it about 1.42% ownership, while hedge funds collectively own roughly 4.07% of the company.

Shares of Flag Ship Acquisition Corp. (NASDAQ:ETHZ - Get Free Report) shot up 13.9% during trading on Thursday . The stock traded as high as $4.65 and last traded at $4.60. 2,565,043 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 6,436,919 shares. The stock had previously closed at $4.04.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Flag Ship Acquisition in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Flag Ship Acquisition has an average rating of "Sell".

Flag Ship Acquisition Trading Up 13.9%

The firm's 50-day moving average price is $3.04 and its 200-day moving average price is $7.91. 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 company has a market cap of $87.46 million, a P/E ratio of -0.03 and a beta of 1.17.

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 stake in Flag Ship Acquisition Corp. (NASDAQ:ETHZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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. Hedge funds and other institutional investors 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.

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