StockNews.com Initiates Coverage on Top Ships (NASDAQ:TOPS)

StockNews.com started coverage on shares of Top Ships (NASDAQ:TOPS) in a research note issued to investors on Friday. The firm issued a hold rating on the shipping company’s stock.

Top Ships Stock Down 2.9 %

NASDAQ:TOPS opened at $7.57 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.61 and a current ratio of 0.63. Top Ships has a 12 month low of $7.06 and a 12 month high of $18.97. The company’s 50-day moving average price is $8.54 and its two-hundred day moving average price is $10.17.

Hedge Funds Weigh In On Top Ships

An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC bought a new stake in Top Ships Inc. (NASDAQ:TOPS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned approximately 0.30% of Top Ships as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.72% of the company’s stock.

Top Ships Company Profile

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.