Top Ships (NASDAQ:TOPS) Shares Cross Above 50 Day Moving Average – Here’s Why

Top Ships Inc. (NASDAQ:TOPS)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.66 and traded as high as $6.05. Top Ships shares last traded at $6.00, with a volume of 19,762 shares trading hands.

Top Ships Trading Up 2.0%

The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.61 and a current ratio of 0.63. The stock’s 50 day simple moving average is $5.66 and its 200-day simple moving average is $5.90.

Institutional Trading of Top Ships

A hedge fund recently raised its stake in Top Ships stock. Cetera Investment Advisers lifted its holdings in Top Ships Inc. (NASDAQ:TOPS) by 38.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,179 shares of the shipping company’s stock after acquiring an additional 4,185 shares during the quarter. Cetera Investment Advisers owned 0.33% of Top Ships worth $80,000 as of its most recent SEC filing. 6.72% of the stock is currently owned by institutional investors.

About Top Ships

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.