Top Ships Inc. (NASDAQ:TOPS – Get Free Report)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.11 and traded as low as $0.70. Top Ships shares last traded at $0.7160, with a volume of 154,447 shares trading hands.
Top Ships Stock Down 3.3%
The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78. The business’s 50-day simple moving average is $1.11 and its 200-day simple moving average is $3.12.
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Top Ships stock. Cetera Investment Advisers boosted its stake in Top Ships Inc. (NASDAQ:TOPS – Free Report) by 38.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,179 shares of the shipping company’s stock after buying an additional 4,185 shares during the quarter. Cetera Investment Advisers owned approximately 0.33% of Top Ships worth $80,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 6.72% of the company’s stock.
Top Ships Company Profile
Top Ships Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the symbol TOPS, is a global dry bulk shipping company. The firm specializes in the transportation of commodities such as iron ore, coal and grains and operates a fleet of Panamax, Kamsarmax and Capesize vessels. Through a mix of long-term time charters and spot charters, Top Ships serves a diversified customer base in the bulk shipping market.
Since its founding, Top Ships has pursued a strategy of fleet growth via acquisitions of second-hand vessels, aiming to capitalize on favorable market cycles.
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