Flag Ship Acquisition (NASDAQ:FSHP) Major Shareholder Sells $954,550.00 in Stock

Flag Ship Acquisition Corporation (NASDAQ:FSHP) major shareholder Mizuho Securities Usa Llc sold 85,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $11.23, for a total value of $954,550.00. Following the transaction, the insider owned 315,000 shares of the company’s stock, valued at approximately $3,537,450. This trade represents a 21.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Flag Ship Acquisition Stock Performance

Shares of Flag Ship Acquisition stock opened at $11.19 on Friday. The company’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $11.03. Flag Ship Acquisition Corporation has a 1 year low of $10.50 and a 1 year high of $12.00.

Flag Ship Acquisition (NASDAQ:FSHP) last announced its earnings results on Friday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Flag Ship Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Flag Ship Acquisition currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Flag Ship Acquisition stock. Toronto Dominion Bank bought a new position in shares of Flag Ship Acquisition Corporation (NASDAQ:FSHP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,480 shares of the company’s stock, valued at approximately $37,000. Toronto Dominion Bank owned approximately 0.07% of Flag Ship Acquisition as of its most recent SEC filing.

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. Flag Ship Acquisition Corporation was incorporated in 2018 and is based in New York, New York.