Sovereign Holdings Inc.
recently disclosed that they own a 57.2% stake in TOP Ships Inc. (NASDAQ:TOPS) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, September 8th. The investor owns 11,035,382 shares of the stock valued at $4,154,821. The reporting parties listed on the disclosure included Family Trading Inc, Sovereign Holdings Inc, Epsilon Holdings Inc, Oscar Shipholding Ltd, Race Navigation Inc, Tankers Family Inc and The Lax Trust. The disclosure is available through Edgar at this hyperlink.
Sovereign Holdings Inc.
provided the following explanation of their ownership:
The information set forth in Item 3 of this Amendment No. 31 is hereby incorporated herein by reference.
Other than as set forth above, there are no other material changes to this Item 4 from the Schedule 13D/A filed with the Commission on August 29,2017.
Separately, ValuEngine cut shares of TOP Ships from a “hold” rating to a “sell” rating in a research report on Friday, September 1st.
Shares of TOP Ships Inc. (NASDAQ:TOPS) traded down 5.8515% during midday trading on Friday, hitting $0.3765. 1,694,822 shares of the stock traded hands. The firm’s 50-day moving average is $1.41 and its 200 day moving average is $179.38. The company’s market capitalization is $108432.00. TOP Ships Inc. has a 52 week low of $0.36 and a 52 week high of $5,039.99.
TOP Ships Profile
Top Ships Inc is an international provider of oil, petroleum products and chemicals transportation services. The Company owns and operates eco medium range (MR) tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. The Company’s fleet includes over two chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the Motor Tanker (M/T) Stenaweco Energy and the M/T Stenaweco Evolution; approximately two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution, and over two 50,000 dwt product/chemical tankers scheduled for delivery from Hyundai Dockyard.
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