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Flag Ship Acquisition Target of Unusually High Options Trading (NASDAQ:ETHZ)

Key Points

  • Flag Ship Acquisition Corp. (NASDAQ:ETHZ) saw a significant spike in options trading, with 59,473 call options bought, marking a 173% increase over its average daily volume.
  • The stock price of Flag Ship Acquisition rose 7.1% during trading to $2.57, with a trading volume surpassing its average by over a million shares.
  • Analyst ratings have turned negative, with Wall Street Zen downgrading Flag Ship Acquisition to a "strong sell" on August 30.
  • MarketBeat previews top five stocks to own in October.

Flag Ship Acquisition Corp. (NASDAQ:ETHZ - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 59,473 call options on the stock. This represents an increase of approximately 173% compared to the average daily volume of 21,794 call options.

Flag Ship Acquisition Stock Up 7.1%

NASDAQ:ETHZ traded up $0.17 during trading hours on Tuesday, hitting $2.57. The stock had a trading volume of 6,021,088 shares, compared to its average volume of 5,035,573. The company has a market capitalization of $422.59 million, a price-to-earnings ratio of -0.17 and a beta of 0.37. Flag Ship Acquisition has a 1-year low of $0.66 and a 1-year high of $17.75.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Flag Ship Acquisition to a "strong sell" rating in a research note on Saturday, August 30th.

Read Our Latest Analysis on Flag Ship Acquisition

Flag Ship Acquisition Company Profile

(Get Free Report)

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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