Flag Ship Acquisition Corporation (NASDAQ:FSHP) Sees Significant Growth in Short Interest

Flag Ship Acquisition Corporation (NASDAQ:FSHP) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,133 shares, an increase of 127.1% from the August 15th total of 499 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 13,032 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at Flag Ship Acquisition

In related news, major shareholder Mizuho Securities Usa Llc sold 85,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 315,000 shares in the company, valued at approximately $3,537,450. This represents a 21.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 39.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flag Ship Acquisition

An institutional investor recently raised its stake in Flag Ship Acquisition stock. Berkley W R Corp increased its position in shares of Flag Ship Acquisition Corporation (NASDAQ:FSHP) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 434,420 shares of the company’s stock after purchasing an additional 33,482 shares during the quarter. Berkley W R Corp owned 8.64% of Flag Ship Acquisition worth $4,748,000 at the end of the most recent reporting period.

Flag Ship Acquisition Stock Performance

Shares of NASDAQ FSHP opened at $11.28 on Wednesday. The stock’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $11.09. Flag Ship Acquisition has a 52-week low of $10.53 and a 52-week high of $12.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Flag Ship Acquisition in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

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