TOP Financial Group (NASDAQ:TOP) Shares to Reverse Split on Monday, August 3rd

TOP Financial Group Limited (NASDAQ:TOP) shares are set to reverse split before the market opens on Monday, August 3rd. The 1-5 reverse split was announced on Thursday, July 30th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, July 31st.

TOP Financial Group Stock Down 0.9%

Shares of NASDAQ TOP traded down $0.02 during midday trading on Thursday, reaching $2.09. The company’s stock had a trading volume of 657,389 shares, compared to its average volume of 428,326. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.02. TOP Financial Group has a fifty-two week low of $0.61 and a fifty-two week high of $3.33. The business’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.16.

TOP Financial Group (NASDAQ:TOP) last issued its quarterly earnings results on Tuesday, July 7th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $0.73 million during the quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TOP shares. Weiss Ratings upgraded shares of TOP Financial Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of TOP Financial Group to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, TOP Financial Group presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its holdings in shares of TOP Financial Group by 42.0% during the 3rd quarter. Susquehanna International Group LLP now owns 51,793 shares of the company’s stock valued at $67,000 after purchasing an additional 15,330 shares during the last quarter. XTX Topco Ltd bought a new position in TOP Financial Group in the 4th quarter valued at approximately $35,000. Finally, Virtu Financial LLC acquired a new stake in TOP Financial Group in the third quarter valued at approximately $42,000. Institutional investors own 0.26% of the company’s stock.

About TOP Financial Group

TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of local and overseas equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company provides a range of futures products, such as index futures, forex futures, agricultural product futures, energy futures, and precious metal futures.