Top Ships (NASDAQ:TOPS) Earns Hold Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Top Ships (NASDAQ:TOPSGet Rating) in a report issued on Sunday. The firm set a “hold” rating on the shipping company’s stock.

Top Ships Price Performance

Shares of Top Ships stock opened at $0.23 on Friday. The stock has a 50 day moving average of $0.33 and a 200 day moving average of $0.60. Top Ships has a 12 month low of $0.22 and a 12 month high of $1.65. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its position in Top Ships by 103.4% during the second quarter. Virtu Financial LLC now owns 98,285 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 49,974 shares during the period. Millennium Management LLC purchased a new stake in Top Ships during the second quarter valued at approximately $62,000. Finally, Renaissance Technologies LLC purchased a new stake in Top Ships during the second quarter valued at approximately $68,000. 63.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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