Top Ships (NASDAQ:TOPS) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Top Ships Inc. (NASDAQ:TOPS)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.34 and traded as high as $5.40. Top Ships shares last traded at $5.18, with a volume of 3,547 shares.

Top Ships Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78. The company’s 50-day simple moving average is $5.34 and its two-hundred day simple moving average is $5.66.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Top Ships stock. Citadel Advisors LLC purchased a new stake in shares of Top Ships Inc. (NASDAQ:TOPS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,613 shares of the shipping company’s stock, valued at approximately $68,000. Citadel Advisors LLC owned about 0.25% of Top Ships at the end of the most recent reporting period. 6.72% of the stock is owned by institutional investors and hedge funds.

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.