Top Ships (NASDAQ:TOPS) Stock Passes Below 200-Day Moving Average – Here’s Why

Top Ships Inc. (NASDAQ:TOPS)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.58 and traded as low as $6.92. Top Ships shares last traded at $7.11, with a volume of 11,215 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Top Ships in a report on Friday. They set a “hold” rating on the stock.

Top Ships Price Performance

The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78. The business’s fifty day simple moving average is $7.04 and its 200 day simple moving average is $8.58.

About Top Ships

Top Ships Inc owns and operates tanker vessels worldwide. The company’s tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2023, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers.