TOP Ships Inc. (TOPS) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of TOPS have fallen 4.61% to $3.52 after closing the day prior at $3.69. So far, the stock has traded as high as $3.84 and as low as $3.47. Today’s decline has come with about 93,999 shares changing hands, compared to an average 30-day volume of 602,553 for TOP Ships Inc.. The price is currently below the 30-day volume weighted average price of $3.64 for TOPS.
The share depreciation gives the company a market capitalization of $13.11 million based upon 3.55 million shares outstanding. It also means that TOPS has a price-to-book ratio of 0.34:1.
In the past 52 weeks, shares of TOPS have traded as low as $1.3 and as high as $10.4. Technical traders will take note that at $3.52, shares of TOPS are trading above their 200-day MA at $2.91 and below their 50-day MA at $3.92. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is TOPS?
TOP Ships Inc is engaged in the transportation of liquid and petroleum cargoes as well as dry bulk cargoes through the ownership of a fleet of tankers and dry bulk carrier. The company’s 6 employees are led by CEO Evangelos J. Pistiolis from the corporate headquarters at 1 Vasilisis Sofias and Megalou Alexandrou Street in Maroussi, .
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