Top Ships Inc. (NASDAQ:TOPS – Get Free Report)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.93 and traded as low as $0.75. Top Ships shares last traded at $0.7551, with a volume of 24,901 shares trading hands.
Top Ships Price Performance
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 stock’s fifty day moving average price is $0.77 and its 200-day moving average price is $1.92.
Institutional Investors Weigh In On Top Ships
A hedge fund recently bought a new position in Top Ships stock. Citadel Advisors LLC purchased a new stake in Top Ships Inc. (NASDAQ:TOPS – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,613 shares of the shipping company’s stock, valued at approximately $68,000. Citadel Advisors LLC owned about 0.25% of Top Ships as of its most recent SEC filing. 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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