TOP SHIPS (NASDAQ:TOPS) Cut to Hold at ValuEngine

ValuEngine cut shares of TOP SHIPS (NASDAQ:TOPS) from a buy rating to a hold rating in a research report report published on Wednesday, ValuEngine reports.

Separately, Maxim Group set a $6.00 price objective on TOP SHIPS and gave the company a buy rating in a report on Wednesday, September 18th.

Shares of NASDAQ TOPS traded down $0.08 during trading hours on Wednesday, reaching $0.84. 935,300 shares of the stock were exchanged, compared to its average volume of 864,682. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.15 and a quick ratio of 0.13. TOP SHIPS has a 52 week low of $0.82 and a 52 week high of $28.00. The stock’s fifty day simple moving average is $2.95 and its 200 day simple moving average is $1.96.

An institutional investor recently raised its position in TOP SHIPS stock. Morgan Stanley raised its stake in shares of TOP SHIPS Inc (NASDAQ:TOPS) by 800.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,502 shares of the shipping company’s stock after purchasing an additional 126,672 shares during the period. Morgan Stanley owned 0.45% of TOP SHIPS worth $64,000 at the end of the most recent quarter. 4.49% of the stock is currently owned by institutional investors.

TOP SHIPS Company Profile

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, 2018, it had a fleet of two bareboat chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the M/T Stenaweco Energy and the M/T Stenaweco Evolution; two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution; six 50,000 dwt product/chemical tankers, the M/T Stenaweco Excellence, M/T Nord Valiant, M/T Stenaweco Elegance, the M/T Eco Palm Desert, the M/T Eco California, and the M/T Eco Marina Del Ray; two 50,000 dwt product/chemical tankers, the M/T Eco Holmby Hills and the M/T Palm Springs; and a 157,000 dwt Suezmax vessel M/T Eco Bel Air.

Read More: Sell-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

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