TOP SHIPS (NASDAQ:TOPS) Shares Down 9.3%

TOP SHIPS Inc (NASDAQ:TOPS)’s stock price traded down 9.3% on Thursday . The stock traded as low as $0.68 and last traded at $0.68, 645,400 shares traded hands during trading. An increase of 188% from the average session volume of 224,134 shares. The stock had previously closed at $0.75.

A number of analysts have weighed in on TOPS shares. Maxim Group set a $6.00 target price on TOP SHIPS and gave the stock a “buy” rating in a research note on Wednesday, September 18th. ValuEngine downgraded TOP SHIPS from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

The company has a debt-to-equity ratio of 2.55, a current ratio of 0.15 and a quick ratio of 0.13. The firm has a fifty day simple moving average of $2.70 and a 200 day simple moving average of $1.96.

An institutional investor recently raised its position in TOP SHIPS stock. Morgan Stanley lifted its position in TOP SHIPS Inc (NASDAQ:TOPS) by 800.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,502 shares of the shipping company’s stock after acquiring an additional 126,672 shares during the period. Morgan Stanley owned 0.45% of TOP SHIPS worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 4.82% of the stock is currently owned by institutional investors and hedge funds.

TOP SHIPS Company Profile (NASDAQ:TOPS)

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, 2018, it had a fleet of two bareboat chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the M/T Stenaweco Energy and the M/T Stenaweco Evolution; two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution; six 50,000 dwt product/chemical tankers, the M/T Stenaweco Excellence, M/T Nord Valiant, M/T Stenaweco Elegance, the M/T Eco Palm Desert, the M/T Eco California, and the M/T Eco Marina Del Ray; two 50,000 dwt product/chemical tankers, the M/T Eco Holmby Hills and the M/T Palm Springs; and a 157,000 dwt Suezmax vessel M/T Eco Bel Air.

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