TOP Financial Group (NASDAQ:TOP) Stock Set to Reverse Split on Monday, August 3rd

Shares of TOP Financial Group Limited (NASDAQ:TOP) are scheduled to reverse split before the market opens on Monday, August 3rd. The 1-5 reverse split was announced on Thursday, July 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, July 31st.

TOP Financial Group Stock Down 0.9%

NASDAQ TOP traded down $0.02 during trading hours on Thursday, hitting $2.09. 657,389 shares of the company’s stock were exchanged, compared to its average volume of 428,326. The stock has a 50-day simple moving average of $1.60 and a 200 day simple moving average of $1.16. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. TOP Financial Group has a 1-year low of $0.61 and a 1-year high of $3.33.

TOP Financial Group (NASDAQ:TOP) last issued its earnings results on Tuesday, July 7th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $0.73 million during the quarter.

Analyst Ratings Changes

TOP has been the subject of several research analyst reports. Wall Street Zen upgraded shares of TOP Financial Group to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of TOP Financial Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On TOP Financial Group

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of TOP Financial Group in the 3rd quarter worth $42,000. Susquehanna International Group LLP increased its stake in TOP Financial Group by 42.0% during the 3rd quarter. Susquehanna International Group LLP now owns 51,793 shares of the company’s stock valued at $67,000 after purchasing an additional 15,330 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in TOP Financial Group during the fourth quarter worth $35,000. 0.26% of the stock is owned by institutional investors and hedge funds.

TOP Financial Group Company Profile

TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of local and overseas equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company provides a range of futures products, such as index futures, forex futures, agricultural product futures, energy futures, and precious metal futures.