Flag Ship Acquisition (NASDAQ:FSHP) Trading Up 1.1% – Here’s Why

Flag Ship Acquisition Corporation (NASDAQ:FSHP)’s stock price shot up 1.1% on Friday . The stock traded as high as $10.68 and last traded at $10.80. 1,801 shares were traded during mid-day trading, a decline of 23% from the average session volume of 2,353 shares. The stock had previously closed at $10.68.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Flag Ship Acquisition in a report on Wednesday, October 8th. One investment 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 Stock Performance

The company has a 50-day moving average of $10.65 and a two-hundred day moving average of $10.53.

Flag Ship Acquisition (NASDAQ:FSHP) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Flag Ship Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in FSHP. Wolverine Asset Management LLC boosted its position in shares of Flag Ship Acquisition by 1.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 494,117 shares of the company’s stock worth $5,203,000 after purchasing an additional 6,558 shares in the last quarter. Mizuho Securities USA LLC raised its stake in Flag Ship Acquisition by 0.3% during 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 last quarter. Quarry LP boosted its holdings in Flag Ship Acquisition by 2.8% in the first quarter. Quarry LP now owns 188,688 shares of the company’s stock worth $1,949,000 after acquiring an additional 5,188 shares in the last quarter. Crossingbridge Advisors LLC purchased a new stake in shares of Flag Ship Acquisition in the third quarter worth $1,415,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Flag Ship Acquisition in the third quarter worth $77,000.

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.