Top Ships Inc. (NASDAQ:TOPS – Get Free Report)’s share price passed 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 traded.
Top Ships Trading Down 3.3%
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 stock has a fifty day moving average price of $1.11 and a 200-day moving average price of $3.12.
Hedge Funds Weigh In On Top Ships
An institutional investor recently raised its stake in Top Ships stock. Cetera Investment Advisers boosted its holdings in Top Ships Inc. (NASDAQ:TOPS – Free Report) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,179 shares of the shipping company’s stock after acquiring an additional 4,185 shares during the quarter. Cetera Investment Advisers owned about 0.33% of Top Ships worth $80,000 as of its most recent filing with the SEC. 6.72% of the stock is currently owned by institutional investors.
About Top Ships
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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