StockNews.com Initiates Coverage on Top Ships (NASDAQ:TOPS)

Research analysts at StockNews.com started coverage on shares of Top Ships (NASDAQ:TOPS) in a research note issued to investors on Sunday. The firm set a “hold” rating on the shipping company’s stock.

Top Ships Stock Performance

Shares of TOPS stock opened at $7.59 on Friday. The company’s fifty day simple moving average is $8.43 and its two-hundred day simple moving average is $9.84. Top Ships has a 52 week low of $7.36 and a 52 week high of $18.97. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78.

Hedge Funds Weigh In On Top Ships

An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC bought a new position in Top Ships Inc. (NASDAQ:TOPS) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned about 0.30% of Top Ships as of its most recent SEC filing. 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.