Top Ships (NASDAQ:TOPS) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Top Ships Inc. (NASDAQ:TOPS) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.73 and traded as high as $8.75. Top Ships shares last traded at $8.40, with a volume of 3,540 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Top Ships in a report on Wednesday. They issued a “hold” rating on the stock.

Top Ships Stock Performance

The company’s fifty day simple moving average is $8.69 and its 200 day simple moving average is $10.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.63 and a quick ratio of 0.61.

Institutional Investors Weigh In On Top Ships

An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC acquired a new position in Top Ships Inc. (NASDAQ:TOPS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 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 SEC filing. 6.72% of the stock is currently owned by hedge funds and other institutional investors.

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.