To me, this isn't at all surprising. The price of a 1st round pick is always high, especially around draft time when teams get attached to certain players, and the Flames don't really have the assets to pay a premium.
In order to move up, they'd have to dent a prospect system they don't have the picks to properly replenish or subtract a quality player from their NHL roster. Given they want to contend sooner than later – as they should – it just doesn't make sense for them to do that.
Using T.J. Brodie, for example, to acquire a scoring winger seems like the better path to take.
I still expect they'll move up next weekend. Just not as high as some would have hoped.