Maxim Group slashes price target on Top Ships Inc. [TOPS] – find out why.

Top Ships Inc. [NASDAQ: TOPS] traded at a high on 04/22/21, posting a 6.38 gain after which it closed the day’ session at $1.50. The company report on April 6, 2021 that TOP Ships Inc. Announces Delivery of Suezmax M/T Eco West Coast.

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TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced that it took delivery of the very high specification, scrubber fitted, 157,000 dwt newbuilding Suezmax vessel M/T Eco West Coast constructed at the Hyundai Heavy Industries shipyard in South Korea. The vessel commenced its previously announced time charter employment with a major oil trader for three years with two yearly extensions at the charterer’s option. The revenue backlog expected to be generated by this fixture, assuming all options are exercised, is about $63.3 million. For 2021 alone, this charter is expected to contribute $9.3 million in revenue.

Evangelos Pistiolis, the President and Chief Executive Officer of the Company, said:.

The results of the trading session contributed to over 2059013 shares changing hands. Over the past one week, the price volatility of Top Ships Inc. stands at 9.93% while the volatility over the past one month is 9.53%.

The market cap for TOPS stock reached $65.49 million, with 39.83 million shares outstanding and 33.49 million shares in the current float. Compared to the average trading volume of 5.19M shares, TOPS reached a trading volume of 2059013 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Top Ships Inc. [TOPS]?

Maxim Group have made an estimate for Top Ships Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 13, 2020. The new note on the price target was released on April 22, 2019, representing the official price target for Top Ships Inc. stock.

The Average True Range (ATR) for Top Ships Inc. is set at 0.17, with the Price to Sales ratio for TOPS stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 0.00, with the Price to Cash per share for the same quarter was set at 0.13.

How has TOPS stock performed recently?

Top Ships Inc. [TOPS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.66. With this latest performance, TOPS shares dropped by -27.54% in over the last four-week period, additionally plugging by 35.14% over the last 6 months – not to mention a drop of -76.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TOPS stock in for the last two-week period is set at 36.18, with the RSI for the last a single of trading hit 36.42, and the three-weeks RSI is set at 38.88 for Top Ships Inc. [TOPS]. The present Moving Average for the last 50 days of trading for this stock 2.2084, while it was recorded at 1.4360 for the last single week of trading, and 1.6882 for the last 200 days.

Top Ships Inc. [TOPS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Top Ships Inc. [TOPS] shares currently have an operating margin of +24.58 and a Gross Margin at +41.49. Top Ships Inc.’s Net Margin is presently recorded at -22.35.

Return on Total Capital for TOPS is now 4.93, given the latest momentum, and Return on Invested Capital for the company is -5.01. Return on Equity for this stock declined to -14.07, with Return on Assets sitting at -4.20. When it comes to the capital structure of this company, Top Ships Inc. [TOPS] has a Total Debt to Total Equity ratio set at 292.19. Additionally, TOPS Total Debt to Total Capital is recorded at 74.50, with Total Debt to Total Assets ending up at 69.46. Long-Term Debt to Equity for the company is recorded at 298.98, with the Long-Term Debt to Total Capital now at 63.20.

Reflecting on the efficiency of the workforce at the company, Top Ships Inc. [TOPS] managed to generate an average of -$54,918 per employee. Receivables Turnover for the company is 69.93 with a Total Asset Turnover recorded at a value of 0.19.Top Ships Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Insider trade positions for Top Ships Inc. [TOPS]

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Positions in Top Ships Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 5 institutional holders increased their position in Top Ships Inc. [NASDAQ:TOPS] by around 101,810 shares. Additionally, 3 investors decreased positions by around 184,239 shares, while 1 investors held positions by with 122,485 shares. The mentioned changes placed institutional holdings at 163,564 shares, according to the latest SEC report filing. TOPS stock had 4 new institutional investments in for a total of 34,258 shares, while 1 institutional investors sold positions of 30,000 shares during the same period.

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