Top Ships Inc. (NASDAQ:TOPS – Get Free Report) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.68 and traded as low as $7.90. Top Ships shares last traded at $8.10, with a volume of 23,758 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Top Ships from a “hold” rating to a “buy” rating in a research report on Saturday, October 7th.
Top Ships Stock Performance
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in shares of Top Ships in the 2nd quarter worth $68,000. Virtu Financial LLC lifted its stake in Top Ships by 103.4% during the 2nd quarter. Virtu Financial LLC now owns 98,285 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 49,974 shares in the last quarter. Millennium Management LLC bought a new position in Top Ships during the 2nd quarter valued at $62,000. Engineers Gate Manager LP bought a new position in Top Ships during the 4th quarter valued at $25,000. Finally, Ancora Advisors LLC bought a new position in Top Ships during the 4th quarter valued at $37,000. 6.90% of the stock is owned by institutional investors and hedge funds.
About Top Ships
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, 2022, 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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