Top Ships (NASDAQ:TOPS) Share Price Passes Below 50 Day Moving Average – What’s Next?

Top Ships Inc. (NASDAQ:TOPS) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.80 and traded as low as $4.70. Top Ships shares last traded at $4.73, with a volume of 8,219 shares.

Top Ships Price Performance

The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78. The stock’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.82.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Top Ships stock. Citadel Advisors LLC acquired a new position in Top Ships Inc. (NASDAQ:TOPS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,613 shares of the shipping company’s stock, valued at approximately $68,000. Citadel Advisors LLC owned 0.25% of Top Ships at the end of the most recent quarter. 6.72% of the stock is currently owned by institutional investors.

About Top Ships

Top Ships Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the symbol TOPS, is a global dry bulk shipping company. The firm specializes in the transportation of commodities such as iron ore, coal and grains and operates a fleet of Panamax, Kamsarmax and Capesize vessels. Through a mix of long-term time charters and spot charters, Top Ships serves a diversified customer base in the bulk shipping market.

Since its founding, Top Ships has pursued a strategy of fleet growth via acquisitions of second-hand vessels, aiming to capitalize on favorable market cycles.