TOP Financial Group (NASDAQ:TOP) Trading Down 6.2% – Here’s Why

Shares of TOP Financial Group Limited (NASDAQ:TOP) traded down 6.2% during mid-day trading on Wednesday . The company traded as low as $11.13 and last traded at $11.30. Approximately 51,943 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 87,080 shares. The stock had previously closed at $12.05.

Analyst Ratings Changes

TOP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of TOP Financial Group to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded TOP Financial Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, TOP Financial Group presently has a consensus rating of “Sell”.

TOP Financial Group Stock Down 6.6%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 1.54. The firm’s 50-day moving average is $9.01 and its 200 day moving average is $6.13.

TOP Financial Group (NASDAQ:TOP) last announced its quarterly earnings results on Tuesday, July 7th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $0.73 million for the quarter.

Institutional Investors Weigh In On TOP Financial Group

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of TOP Financial Group in the 4th quarter worth about $35,000. Virtu Financial LLC acquired a new position in TOP Financial Group during the third quarter valued at approximately $42,000. Finally, Susquehanna International Group LLP grew its stake in TOP Financial Group by 42.0% during the third quarter. Susquehanna International Group LLP now owns 51,793 shares of the company’s stock worth $67,000 after buying an additional 15,330 shares during the period. Hedge funds and other institutional investors own 0.26% of the company’s stock.

TOP Financial Group Company Profile

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.