Top Ships (NASDAQ:TOPS) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Top Ships Inc. (NASDAQ:TOPS)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.73 and traded as high as $8.75. Top Ships shares last traded at $8.40, with a volume of 3,540 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Top Ships in a report on Wednesday. They set a “hold” rating for the company.

Top Ships Price Performance

The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78. The business has a fifty day moving average price of $8.73 and a 200-day moving average price of $10.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC purchased a new position in Top Ships Inc. (NASDAQ:TOPS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned 0.30% of Top Ships at the end of the most recent reporting period. Institutional investors and hedge funds own 6.72% of the company’s stock.

Top Ships Company Profile

Top Ships Inc owns and operates tanker vessels worldwide. The company’s tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2023, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers.