Top Ships Inc. [TOPS] is -58.08% lower this YTD. Is it still time to buy?

Top Ships Inc. [NASDAQ: TOPS] jumped around 0.6 points on Friday, while shares priced at $7.00 at the close of the session, up 9.37%. The company report on October 6, 2022 that Top Ships Announces Termination of ATM Program of $19.7 Million.


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TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced that it has given notice to terminate the equity distribution agreement for the sale of the Company’s common shares up to an aggregate amount of $19.7 million (the “Agreement”) with Maxim Group LLC in an “at-the-market” equity offering program (the “ATM”). The Company will make no further sales under the ATM. Net proceeds from sales under the ATM amounted to approximately $2.0 million.

Top Ships Inc. stock is now -58.08% down from its year-to-date (YTD) trading value. TOPS Stock saw the intraday high of $8.97 and lowest of $5.89 per share. The company’s 52-week high price is 33.00, which means current price is +233.33% above from all time high which was touched on 03/07/22.

Compared to the average trading volume of 1.50M shares, TOPS reached a trading volume of 22923871 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. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. 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 1.50, with the Price to Sales ratio for TOPS stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 2.31.

How has TOPS stock performed recently?

Top Ships Inc. [TOPS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 130.26. With this latest performance, TOPS shares gained by 34.15% in over the last four-week period, additionally sinking by -63.54% over the last 6 months – not to mention a drop of -76.35% 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 58.23, with the RSI for the last a single of trading hit 60.45, and the three-weeks RSI is set at 55.83 for Top Ships Inc. [TOPS]. The present Moving Average for the last 50 days of trading for this stock 5.79, while it was recorded at 6.40 for the last single week of trading, and 13.02 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 +28.32 and a Gross Margin at +55.60. Top Ships Inc.’s Net Margin is presently recorded at +15.29.

Return on Equity for this stock inclined to 7.07, with Return on Assets sitting at 2.76.

Insider trade positions for Top Ships Inc. [TOPS]

There are presently around $1 million, or 0.71% of TOPS stock, in the hands of institutional investors. The top three institutional holders of TOPS stocks are: ARMISTICE CAPITAL, LLC with ownership of 91,648, which is approximately New of the company’s market cap and around 0.18% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 9,024 shares of the stock with an approximate value of $63000.0 in TOPS stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $57000.0 in TOPS stock with ownership of nearly New of the company’s market capitalization.

Positions in Top Ships Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 10 institutional holders increased their position in Top Ships Inc. [NASDAQ:TOPS] by around 119,597 shares. Additionally, 5 investors decreased positions by around 4,487 shares, while 4 investors held positions by with 8,387 shares. The mentioned changes placed institutional holdings at 132,471 shares, according to the latest SEC report filing. TOPS stock had 4 new institutional investments in for a total of 114,244 shares, while 2 institutional investors sold positions of 2,866 shares during the same period.

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