Top Ships (NASDAQ:TOPS) Coverage Initiated at StockNews.com

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

Top Ships Stock Performance

Shares of NASDAQ TOPS opened at $7.58 on Friday. The company’s 50-day simple moving average is $8.49 and its 200-day simple moving average is $9.92. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78. Top Ships has a 52-week low of $7.37 and a 52-week high of $18.97.

Hedge Funds 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 shares of Top Ships Inc. (NASDAQ:TOPS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission. 6.72% of the stock is currently owned by institutional investors and hedge funds.

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.