Flag Ship Acquisition (NASDAQ:ETHZ) Trading Down 7.2% – Here’s Why

Flag Ship Acquisition Corp. (NASDAQ:ETHZ)’s stock price traded down 7.2% during mid-day trading on Tuesday . The company traded as low as $16.80 and last traded at $16.86. 476,938 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,711,294 shares. The stock had previously closed at $18.17.

Analyst Ratings Changes

ETHZ has been the topic of several analyst reports. Wall Street Zen downgraded shares of Flag Ship Acquisition to a “strong sell” rating in a research report on Saturday, August 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flag Ship Acquisition in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Flag Ship Acquisition Stock Down 7.2%

The firm has a market cap of $277.18 million, a price-to-earnings ratio of -0.11 and a beta of 0.39. The company has a 50 day moving average price of $21.39.

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.