Weiss Ratings Reiterates Sell (D) Rating for Flag Ship Acquisition (NASDAQ:FSHP)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Flag Ship Acquisition (NASDAQ:FSHP) in a recent report, indicating continued concerns about the company's performance.
• Flag Ship Acquisition's stock saw a slight increase of 0.2% to open at $10.60, with a one year trading range between $10.03 and $10.66.
• Several institutional investors have recently adjusted their holdings in FSHP, with Wolverine Asset Management increasing its stake by 4.9%, reflecting ongoing interest in the company despite its cautious outlook.

Flag Ship Acquisition (NASDAQ:FSHP - Get Free Report)'s stock had its "sell (d)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Flag Ship Acquisition Stock Up 0.2%

Flag Ship Acquisition stock opened at $10.60 on Wednesday. The stock's 50 day moving average is $10.54 and its 200 day moving average is $10.46. Flag Ship Acquisition has a one year low of $10.03 and a one year high of $10.66.

Hedge Funds Weigh In On Flag Ship Acquisition

Several institutional investors have recently added to or reduced their stakes in FSHP. Wolverine Asset Management LLC lifted its stake in Flag Ship Acquisition by 4.9% in the first quarter. Wolverine Asset Management LLC now owns 487,559 shares of the company's stock valued at $5,036,000 after buying an additional 22,956 shares during the period. Mizuho Securities USA LLC lifted its stake in Flag Ship Acquisition by 0.3% in the first quarter. Mizuho Securities USA LLC now owns 659,500 shares of the company's stock valued at $6,760,000 after buying an additional 2,000 shares during the period. Quarry LP lifted its stake in Flag Ship Acquisition by 2.8% in the first quarter. Quarry LP now owns 188,688 shares of the company's stock valued at $1,949,000 after buying an additional 5,188 shares during the period. Finally, Berkley W R Corp lifted its stake in 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 buying an additional 12,885 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.