Top Ships (NASDAQ:TOPS) Shares Down 7.6%

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Top Ships Inc. (NASDAQ:TOPS) shares traded down 7.6% during mid-day trading on Wednesday . The company traded as low as $1.55 and last traded at $1.59. 5,393,488 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 6,262,786 shares. The stock had previously closed at $1.72.

The stock has a 50-day moving average price of $1.31 and a 200-day moving average price of $1.57. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.28 and a quick ratio of 0.25.

A hedge fund recently bought a new stake in Top Ships stock. Powell Investment Advisors LLC purchased a new position in shares of Top Ships Inc. (NASDAQ:TOPS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 25,000 shares of the shipping company’s stock, valued at approximately $27,000. Powell Investment Advisors LLC owned about 0.06% of Top Ships at the end of the most recent quarter. 2.68% of the stock is owned by hedge funds and other institutional investors.

About Top Ships (NASDAQ:TOPS)

Top Ships Inc owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2019, it had a fleet with a total capacity of 714,000 deadweight tonnes (dwt) consisting of eight 50,000 dwt product/chemical tankers, such as the M/T Stenaweco Energy, M/T Stenaweco Evolution, M/T Nord Valiant, M/T Stenaweco Excellence, the M/T Eco California, the M/T Eco Marina Del Ray, The M/T Eco Los Angeles, and the M/T Eco City of Angels; and two 157,000 dwt Suezmax tankers, including the M/T Eco Bel Air and M/T Eco Beverly Hills.

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