Top Ships Inc. (NASDAQ:TOPS) Short Interest Down 35.0% in April

Top Ships Inc. (NASDAQ:TOPSGet Rating) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 608,400 shares, a drop of 35.0% from the April 15th total of 935,900 shares. Based on an average trading volume of 921,300 shares, the days-to-cover ratio is presently 0.7 days.

Several institutional investors and hedge funds have recently modified their holdings of TOPS. Renaissance Technologies LLC raised its stake in shares of Top Ships by 286.7% in the fourth quarter. Renaissance Technologies LLC now owns 347,685 shares of the shipping company’s stock valued at $290,000 after buying an additional 257,765 shares during the period. Virtu Financial LLC raised its stake in shares of Top Ships by 948.4% in the fourth quarter. Virtu Financial LLC now owns 136,496 shares of the shipping company’s stock valued at $115,000 after buying an additional 123,477 shares during the period. Citadel Advisors LLC bought a new stake in shares of Top Ships in the third quarter valued at $87,000. Susquehanna International Group LLP bought a new stake in shares of Top Ships in the fourth quarter valued at $33,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Top Ships in the third quarter valued at $40,000. Hedge funds and other institutional investors own 46.11% of the company’s stock.

Separately, StockNews.com lowered Top Ships from a “buy” rating to a “hold” rating in a report on Thursday.

Shares of TOPS opened at $0.67 on Friday. The stock’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $0.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. Top Ships has a 1 year low of $0.60 and a 1 year high of $1.95.

Top Ships Company Profile (Get Rating)

Top Ships Inc owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, it had a fleet with a total capacity of 672,396 deadweight tonnes (dwt) consisting of four 50,000 dwt product/chemical tankers and three 157,000 dwt tankers.

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