TOP SHIPS Inc (NASDAQ:TOPS) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 444,400 shares, a growth of 176.0% from the September 30th total of 161,000 shares. Currently, 13.7% of the shares of the stock are sold short. Based on an average daily volume of 620,100 shares, the short-interest ratio is currently 0.7 days.

TOPS opened at $0.92 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.13 and a current ratio of 0.15. TOP SHIPS has a 1-year low of $0.87 and a 1-year high of $28.40. The firm has a 50-day moving average price of $3.00 and a two-hundred day moving average price of $1.96.

A hedge fund recently raised its stake in TOP SHIPS stock. Morgan Stanley raised its stake in TOP SHIPS Inc (NASDAQ:TOPS) by 800.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,502 shares of the shipping company’s stock after acquiring an additional 126,672 shares during the quarter. Morgan Stanley owned about 0.45% of TOP SHIPS worth $64,000 as of its most recent filing with the Securities and Exchange Commission. 4.49% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on TOPS shares. Maxim Group set a $6.00 price objective on shares of TOP SHIPS and gave the company a “buy” rating in a research report on Wednesday, September 18th. ValuEngine cut shares of TOP SHIPS from a “buy” rating to a “hold” rating in a research report on Wednesday.

About TOP SHIPS

Top Ships Inc owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2018, it had a fleet of two bareboat chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the M/T Stenaweco Energy and the M/T Stenaweco Evolution; two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution; six 50,000 dwt product/chemical tankers, the M/T Stenaweco Excellence, M/T Nord Valiant, M/T Stenaweco Elegance, the M/T Eco Palm Desert, the M/T Eco California, and the M/T Eco Marina Del Ray; two 50,000 dwt product/chemical tankers, the M/T Eco Holmby Hills and the M/T Palm Springs; and a 157,000 dwt Suezmax vessel M/T Eco Bel Air.

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