Flag Ship Acquisition (NASDAQ:FSHP) Trading Down 0% - Here's What Happened

Key Points

• Flag Ship Acquisition (NASDAQ:FSHP) was essentially flat midday at about $10.9650 (intraday low $10.93) on light volume—~253 shares traded, down ~46% from its average daily volume of 469 shares.
• Analysts hold a consensus "Sell" rating (Weiss Ratings reaffirmed a "sell (d)"), while several institutions added positions, notably Crossingbridge Advisors' ~$1.415 million purchase in Q3.
• Company: Flag Ship is a SPAC with no significant operations that aims to acquire businesses across sectors such as internet/technology, fintech, clean energy, healthcare and consumer/retail.

Flag Ship Acquisition Corporation (NASDAQ:FSHP - Get Free Report)'s stock price was down 0% during mid-day trading on Tuesday . The stock traded as low as $10.93 and last traded at $10.9650. Approximately 253 shares were traded during trading, a decline of 46% from the average daily volume of 469 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, Flag Ship Acquisition currently has an average rating of "Sell".

Flag Ship Acquisition Trading Down 0.0%

The company has a 50-day moving average of $10.92 and a 200-day moving average of $10.81.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FSHP. Toronto Dominion Bank purchased a new position in Flag Ship Acquisition in the fourth quarter worth $37,000. Clear Street Group Inc. purchased a new position in Flag Ship Acquisition in the third quarter worth $77,000. Finally, Crossingbridge Advisors LLC purchased a new position in Flag Ship Acquisition in the third quarter worth $1,415,000.

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.

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