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

Top Ships Inc. (NASDAQ:TOPS) shares crossed 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 trading hands.

Top Ships Stock Up 1.4%

The business has a 50 day moving average of $5.34 and a 200 day moving average of $5.66. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78.

Hedge Funds Weigh In On Top Ships

An institutional investor recently raised its position in Top Ships stock. Cetera Investment Advisers increased its stake in Top Ships Inc. (NASDAQ:TOPS) by 38.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,179 shares of the shipping company’s stock after buying an additional 4,185 shares during the period. Cetera Investment Advisers owned 0.33% of Top Ships worth $80,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.