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

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

Top Ships Trading Down 3.0 %

Shares of TOPS stock traded down $0.23 during midday trading on Friday, reaching $7.57. 13,086 shares of the company traded hands, compared to its average volume of 12,575. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.63 and a quick ratio of 0.61. The firm’s 50 day simple moving average is $8.54 and its two-hundred day simple moving average is $10.19. Top Ships has a 1-year low of $7.06 and a 1-year high of $18.97.

Institutional Investors Weigh In On Top Ships

An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC purchased a new position in Top Ships Inc. (NASDAQ:TOPS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned approximately 0.30% of Top Ships at the end of the most recent reporting period. Institutional investors own 6.72% of the company’s stock.

About Top Ships

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.