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

StockNews.com initiated coverage on shares of Top Ships (NASDAQ:TOPS) in a research note published on Saturday morning. The brokerage issued a hold rating on the shipping company’s stock.

Top Ships Stock Performance

Shares of NASDAQ TOPS opened at $9.16 on Friday. Top Ships has a 12 month low of $5.51 and a 12 month high of $18.97. The firm’s 50 day simple moving average is $9.00 and its 200-day simple moving average is $11.29. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78.

Institutional Investors Weigh In On Top Ships

A hedge fund recently bought a new stake in Top Ships stock. Cetera Advisors LLC purchased a new stake in Top Ships Inc. (NASDAQ:TOPS) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned 0.30% of Top Ships 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 owns and operates tanker vessels worldwide. The company's tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2023, 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.