Top Ships (NASDAQ:TOPS) Rating Lowered to Sell at StockNews.com

Top Ships (NASDAQ:TOPSGet Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Top Ships Price Performance

Shares of Top Ships stock opened at $3.35 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 2.59. The company has a 50-day moving average of $4.48 and a 200 day moving average of $7.46. Top Ships has a 1 year low of $2.10 and a 1 year high of $32.80.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in shares of Top Ships in the 2nd quarter worth about $68,000. Millennium Management LLC purchased a new position in Top Ships in the second quarter worth about $62,000. Finally, Virtu Financial LLC raised its holdings in Top Ships by 103.4% in the second quarter. Virtu Financial LLC now owns 98,285 shares of the shipping company’s stock worth $37,000 after buying an additional 49,974 shares during the last quarter. 63.19% of the stock is currently owned by institutional investors.

About Top Ships

(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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