Top Ships (NASDAQ:TOPS) Cut to Hold at StockNews.com

Top Ships (NASDAQ:TOPSGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

TOPS stock opened at $0.67 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50 day moving average is $0.93 and its 200 day moving average is $0.98. Top Ships has a 1-year low of $0.60 and a 1-year high of $1.95.

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC increased its position in shares of Top Ships by 948.4% in the fourth quarter. Virtu Financial LLC now owns 136,496 shares of the shipping company’s stock worth $115,000 after purchasing an additional 123,477 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Top Ships in the fourth quarter worth approximately $33,000. Renaissance Technologies LLC increased its position in shares of Top Ships by 286.7% in the fourth quarter. Renaissance Technologies LLC now owns 347,685 shares of the shipping company’s stock worth $290,000 after purchasing an additional 257,765 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Top Ships by 13.7% in the third quarter. Cetera Advisors LLC now owns 113,057 shares of the shipping company’s stock worth $167,000 after purchasing an additional 13,627 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Top Ships in the third quarter worth approximately $40,000. Institutional investors own 46.11% 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 672,396 deadweight tonnes (dwt) consisting of four 50,000 dwt product/chemical tankers and three 157,000 dwt tankers.

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