Top Ships (NASDAQ:TOPS) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

by · The Cerbat Gem

Top Ships Inc. (NASDAQ:TOPS – Get Free Report)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.98 and traded as high as $6.00. Top Ships shares last traded at $5.94, with a volume of 26,849 shares changing hands.

Top Ships Price Performance

The business’s 50 day moving average is $5.98 and its 200 day moving average is $5.98. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.61 and a current ratio of 0.63.

Institutional Investors Weigh In On Top Ships

A hedge fund recently raised its stake in Top Ships stock. Cetera Investment Advisers raised its stake in Top Ships Inc. (NASDAQ:TOPS – Free Report) by 38.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,179 shares of the shipping company’s stock after purchasing an additional 4,185 shares during the period. Cetera Investment Advisers owned 0.33% of Top Ships worth $80,000 as of its most recent SEC filing. Institutional investors own 6.72% of the company’s stock.

About Top Ships

(Get Free Report)

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.

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