Business

Wolverine Asset Management Reduces Flag Ship Acquisition Stake by 70%

Published

13 hours ago

17 January, 2026

Wolverine Asset Management LLC has significantly reduced its holdings in Flag Ship Acquisition Corporation (NASDAQ: FSHP) by selling 346,697 shares, representing a decrease of 70.2% during the third quarter of 2023. Following this sale, Wolverine now holds 147,420 shares, valued at approximately $1.57 million, according to reports from HoldingsChannel.

In a contrasting move, Berkley W R Corp has increased its stake in Flag Ship Acquisition by 2.0% during the second quarter. The firm now owns 658,831 shares, worth around $6.85 million, after acquiring an additional 12,885 shares in that period.

Analyst Ratings and Stock Performance

Analysts have recently set new price targets for Flag Ship Acquisition. On October 8, 2023, Weiss Ratings reissued a “sell (d)” rating for the stock. Currently, the average rating for FSHP is classified as “Sell,” with one analyst specifically recommending a sell position.

As of the last trading session, the stock opened at $10.87. The fifty-day moving average stands at $10.74, while the two-hundred-day moving average is noted at $10.61. Over the past year, FSHP has seen a low of $10.17 and a high of $10.96.

Flag Ship Acquisition Corporation, based in New York, New York, does not currently engage in significant operations. Its primary objective involves executing mergers, capital stock exchanges, asset acquisitions, and reorganizations with various businesses. The company is particularly focused on sectors including Internet and high technology, financial technology, clean energy, healthcare, consumer and retail, energy and resources, food processing, manufacturing, and education.

The firm last reported its quarterly earnings results on October 31, 2023, announcing earnings per share (EPS) of $0.06 for the quarter.

For those interested in tracking institutional investments in Flag Ship Acquisition Corporation, detailed information can be found through HoldingsChannel.com, which provides the latest 13F filings and insider trades related to FSHP.