Top Ships (NASDAQ:TOPS) Stock Passes Below 200-Day Moving Average – Should You Sell?

Top Ships Inc. (NASDAQ:TOPS) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.70 and traded as low as $5.12. Top Ships shares last traded at $5.02, with a volume of 2,132 shares changing hands.

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 has a fifty day simple moving average of $5.45 and a 200-day simple moving average of $5.70.

Institutional Investors Weigh In On Top Ships

An institutional investor recently raised its position in Top Ships stock. Cetera Investment Advisers raised its holdings in shares of Top Ships Inc. (NASDAQ:TOPS) by 38.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,179 shares of the shipping company’s stock after acquiring an additional 4,185 shares during the quarter. Cetera Investment Advisers owned approximately 0.33% of Top Ships worth $80,000 as of its most recent SEC filing. Institutional investors and hedge funds own 6.72% of the company’s stock.

Top Ships Company Profile

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.