Top Ships (NASDAQ:TOPS) Stock Passes Above 50 Day Moving Average of $13.78

Top Ships Inc. (NASDAQ:TOPS)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $13.78 and traded as high as $13.81. Top Ships shares last traded at $13.66, with a volume of 20,530 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Top Ships from a “buy” rating to a “hold” rating in a research note on Tuesday.

Top Ships Price Performance

The stock’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $12.03. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 1.64.

Hedge Funds Weigh In On Top Ships

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP acquired a new stake in Top Ships in the 4th quarter valued at approximately $260,000. Two Sigma Securities LLC boosted its position in shares of Top Ships by 69.3% in the first quarter. Two Sigma Securities LLC now owns 55,555 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 22,736 shares during the period. Millennium Management LLC acquired a new stake in shares of Top Ships in the fourth quarter worth $45,000. Ancora Advisors LLC bought a new position in Top Ships during the fourth quarter worth $37,000. Finally, Engineers Gate Manager LP bought a new position in Top Ships during the fourth quarter worth $25,000. Institutional investors and hedge funds own 6.72% of the company’s stock.

About Top Ships

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, 2022, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers.