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Top Ships (NASDAQ:TOPS) Coverage Initiated by Analysts at StockNews.com

kopsource ·  Sep 29, 2022 15:31

StockNews.com initiated coverage on shares of Top Ships (NASDAQ:TOPS – Get Rating) in a research note issued to investors on Monday. The brokerage issued a hold rating on the shipping company's stock.

Top Ships Stock Up 29.5 %

Shares of TOPS stock opened at $3.03 on Monday. Top Ships has a 52-week low of $2.10 and a 52-week high of $33.00. The firm's 50-day moving average is $5.95 and its 200-day moving average is $11.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TOPS. Renaissance Technologies LLC acquired a new position in Top Ships in the 2nd quarter valued at about $68,000. Virtu Financial LLC grew its stake in Top Ships by 103.4% in the 2nd quarter. Virtu Financial LLC now owns 98,285 shares of the shipping company's stock valued at $37,000 after buying an additional 49,974 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Top Ships in the 2nd quarter valued at about $62,000. Institutional investors and hedge funds own 63.19% of the company's stock.

Top Ships Company Profile

(Get Rating)

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.

Further Reading

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