Flag Ship Acquisition (NASDAQ:ETHZ) Trading Down 1% – Time to Sell?

Flag Ship Acquisition Corp. (NASDAQ:ETHZ) fell 1% on Friday . The company traded as low as $5.87 and last traded at $5.90. Approximately 221,338 shares were traded during trading, a decline of 97% from the average session volume of 6,436,919 shares. The stock had previously closed at $5.96.

Flag Ship Acquisition Trading Up 1.0%

The business has a 50-day moving average of $5.00 and a 200-day moving average of $4.24. The stock has a market capitalization of $113.31 million, a price-to-earnings ratio of -0.04 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 10.07 and a current ratio of 10.07.

Hedge Funds Weigh In On Flag Ship Acquisition

A hedge fund recently bought a new stake in Flag Ship Acquisition stock. DRW Securities LLC purchased a new stake in Flag Ship Acquisition Corp. (NASDAQ:ETHZ) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 270,733 shares of the company’s stock, valued at approximately $1,327,000. DRW Securities LLC owned about 1.42% of Flag Ship Acquisition at the end of the most recent reporting period. 4.07% of the stock is currently owned by institutional investors and hedge funds.

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.