Flag Ship Acquisition (NASDAQ:FSHP) Stock Price Up 0.1% - Here's Why

Key Points

• Flag Ship Acquisition (NASDAQ:FSHP) rose 0.1% to $10.95 on Friday, but trading was thin at roughly 600 shares—about a 49% decline from its average daily volume.
• Analysts maintain a consensus Sell rating; Weiss Ratings recently restated a "sell (d)" on the stock according to MarketBeat.
• The company is a blank‑check SPAC with no significant operations, formed to pursue mergers or acquisitions across technology, fintech, clean energy, healthcare and other sectors.

Flag Ship Acquisition Corporation (NASDAQ:FSHP - Get Free Report)'s stock price rose 0.1% on Friday . The company traded as high as $10.95 and last traded at $10.95. Approximately 600 shares changed hands during trading, a decline of 49% from the average daily volume of 1,181 shares. The stock had previously closed at $10.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Flag Ship Acquisition in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Flag Ship Acquisition Stock Performance

The stock's 50 day moving average is $10.88 and its 200-day moving average is $10.77.

Institutional Investors Weigh In On Flag Ship Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the company. Berkley W R Corp raised its stake in shares of Flag Ship Acquisition by 2.0% in the second quarter. Berkley W R Corp now owns 658,831 shares of the company's stock valued at $6,845,000 after acquiring an additional 12,885 shares during the period. Crossingbridge Advisors LLC purchased a new stake in shares of Flag Ship Acquisition in the third quarter valued at $1,415,000. Clear Street Group Inc. purchased a new stake in shares of Flag Ship Acquisition in the third quarter valued at $77,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Flag Ship Acquisition in the fourth quarter valued at $37,000.

Flag Ship Acquisition Company Profile

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.

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