Top Ships Inc. (NASDAQ:TOPS – Get Rating) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 23,800 shares, a decline of 95.7% from the August 31st total of 558,200 shares. Currently, 0.8% of the company's stock are sold short. Based on an average trading volume of 152,300 shares, the short-interest ratio is currently 0.2 days.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on shares of Top Ships in a research report on Monday. They issued a "hold" rating on the stock.
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Shares of Top Ships stock traded up $0.59 on Wednesday, reaching $2.93. The company had a trading volume of 303,404 shares, compared to its average volume of 417,564. The firm's 50 day moving average price is $6.04 and its two-hundred day moving average price is $11.21. Top Ships has a 52-week low of $2.10 and a 52-week high of $33.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70.
Institutional Investors Weigh In On Top Ships
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its holdings in Top Ships by 103.4% during the 2nd quarter. Virtu Financial LLC now owns 98,285 shares of the shipping company's stock worth $37,000 after acquiring an additional 49,974 shares in the last quarter. Millennium Management LLC acquired a new position in Top Ships during the 2nd quarter worth approximately $62,000. Finally, Renaissance Technologies LLC acquired a new position in Top Ships during the 2nd quarter worth approximately $68,000. 63.19% of the stock is owned by hedge funds and other institutional investors.About Top Ships
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Top Ships Inc owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, 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.
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