Top Ships (NASDAQ:TOPS) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Top Ships Inc. (NASDAQ:TOPS)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.60 and traded as low as $0.8623. Top Ships shares last traded at $0.8910, with a volume of 180,355 shares changing hands.

Top Ships Stock Performance

The company has a debt-to-equity ratio of 1.78, a current ratio of 0.63 and a quick ratio of 0.61. The business has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $3.54.

Hedge Funds Weigh In On Top Ships

A hedge fund recently bought a new stake in Top Ships stock. Citadel Advisors LLC acquired a new position in Top Ships Inc. (NASDAQ:TOPS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,613 shares of the shipping company’s stock, valued at approximately $68,000. Citadel Advisors LLC owned about 0.25% of Top Ships at the end of the most recent quarter. Institutional investors own 6.72% of the company’s stock.

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.