Top Ships (NASDAQ:TOPS) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Shares of Top Ships Inc. (NASDAQ:TOPS) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.32 and traded as low as $0.7505. Top Ships shares last traded at $0.7830, with a volume of 140,114 shares.

Top Ships Stock 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 firm has a 50-day moving average of $1.29 and a 200 day moving average of $3.29.

Institutional Trading of Top Ships

An institutional investor recently bought a new stake in Top Ships stock. Citadel Advisors LLC purchased a new position in Top Ships Inc. (NASDAQ:TOPS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,613 shares of the shipping company’s stock, valued at approximately $68,000. Citadel Advisors LLC owned 0.25% of Top Ships as of its most recent SEC filing. 6.72% of the stock is currently 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.