Top Ships (NASDAQ:TOPS) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Top Ships Inc. (NASDAQ:TOPS) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.92 and traded as low as $3.43. Top Ships shares last traded at $3.60, with a volume of 5,134,936 shares changing hands.

Top Ships Trading Down 9.4%

The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78. The stock’s 50-day moving average price is $4.87 and its 200-day moving average price is $5.41.

Institutional Investors Weigh In On Top Ships

An institutional investor recently raised its position in Top Ships stock. Cetera Investment Advisers lifted its position in shares of Top Ships Inc. (NASDAQ:TOPS) by 38.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,179 shares of the shipping company’s stock after purchasing an additional 4,185 shares during the quarter. Cetera Investment Advisers owned 0.33% of Top Ships worth $80,000 at the end of the most recent reporting period. 6.72% of the stock is owned by institutional investors.

Top Ships Company Profile

Top Ships Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the symbol TOPS, is a global dry bulk shipping company. The firm specializes in the transportation of commodities such as iron ore, coal and grains and operates a fleet of Panamax, Kamsarmax and Capesize vessels. Through a mix of long-term time charters and spot charters, Top Ships serves a diversified customer base in the bulk shipping market.

Since its founding, Top Ships has pursued a strategy of fleet growth via acquisitions of second-hand vessels, aiming to capitalize on favorable market cycles.