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

Top Ships Inc. [NASDAQ: TOPS] price surged by 29.63 percent to reach at $0.24. The company report on March 8, 2023 that Top Ships Announces Management Estimate of Diluted Net Asset Value Per Share of $5.27.

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This translates into an NAV of $14.05 per common share (based on number of common shares currently outstanding) and $5.27 per common share on a fully diluted basis (assuming exercise of all outstanding warrants for cash and conversion of all outstanding Series E perpetual preferred shares at their current conversion price).

A sum of 49060294 shares traded at recent session while its average daily volume was at 3.39M shares. Top Ships Inc. shares reached a high of $1.25 and dropped to a low of $0.83 until finishing in the latest session at $1.05.

The one-year TOPS stock forecast points to a potential upside of 58.0. The average equity rating for TOPS stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Top Ships Inc. [TOPS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TOPS shares is $2.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TOPS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.16, with the Price to Sales ratio for TOPS stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.03, with the Price to Cash per share for the same quarter was set at 0.69.

TOPS Stock Performance Analysis:

Top Ships Inc. [TOPS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.38. With this latest performance, TOPS shares dropped by -26.06% in over the last four-week period, additionally sinking by -81.21% over the last 6 months – not to mention a drop of -96.48% 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 50.21, with the RSI for the last a single of trading hit 56.80, and the three-weeks RSI is set at 46.34 for Top Ships Inc. [TOPS]. The present Moving Average for the last 50 days of trading for this stock 1.1863, while it was recorded at 0.9088 for the last single week of trading, and 4.7907 for the last 200 days.

Insight into Top Ships Inc. Fundamentals:

Top Ships Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.

Top Ships Inc. [TOPS] Insider Position Details

There are presently around $0 million, or 0.40% of TOPS stock, in the hands of institutional investors. The top three institutional holders of TOPS stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 35,482, which is approximately New of the company’s market cap and around 4.92% of the total institutional ownership; TWO SIGMA SECURITIES, LLC, holding 32,819 shares of the stock with an approximate value of $34000.0 in TOPS stocks shares; and ANCORA ADVISORS, LLC, currently with $30000.0 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 Wednesday and at the time of the Wednesday reporting period, where 8 institutional holders increased their position in Top Ships Inc. [NASDAQ:TOPS] by around 174,448 shares. Additionally, 4 investors decreased positions by around 37,462 shares, while 2 investors held positions by with 36,199 shares. The mentioned changes placed institutional holdings at 175,711 shares, according to the latest SEC report filing. TOPS stock had 7 new institutional investments in for a total of 159,735 shares, while 2 institutional investors sold positions of 35,075 shares during the same period.


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