Time to surrender TOP Ships Inc. (NASDAQ:TOPS)?


Equity ownership in Top Ships Inc. (NASDAQ:TOPS) is spread out. As per the latest figures, insiders own – of the company. That compares with institutional ownership of 0.60%.

In terms of transactions along the lines of equity ownership, the company has seen – insider transactions and 0.58% institutional transactions in the recent months.

The Barchart Technical Opinion rating is a 96% Sell with a Strongest short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators fully support a continuation of the trend. The market is in highly oversold territory. Beware of a trend reversal.

Recently, Top Ships Inc. (NASDAQ:TOPS) announced that it has entered into a definitive securities purchase agreement with an institutional investor to raise approximately $3 million in a private placement of 3,160 Series B Convertible Preferred Shares, which are convertible into common shares of the Company (with the number of common shares issuable subject to adjustment as described therein). The Company closed on the initial portion of 1,579 Series B Convertible Preferred Shares on November 22, 2016 for total gross proceeds of approximately $1.5 million.

Top Ships Inc. has 28.83M shares outstanding of which 21.56M float. The short float is 12.74%, implying a short ratio of 0.63.

In terms of stock price performance, shares of Top Ships Inc. have moved -67.05% over the last one week and have moved -88.11% over the last one month. Stock performance for the last one quarter is -96.51% and for the last six months is -96.91%. Over the last 12 months shares of Top Ships Inc. have moved -96.94% and their movement so far this year is -96.78%.

What has Top Ships Inc. produced for investors over the last 12 months? The company?s financial documents reveal return on assets for the trailing 12 months is -0.40% and return on equity for the same period is -0.90%%. Return on investments for the last 12 months stands at 3.70%.

Where does Top Ships Inc. stands in terms of liquidity and balance sheet strength? The company?s current ratio for the most recent quarter is 0.20 and quick ratio for the same period is 0.20. The company?s Long Term Debt/Equity and Total Debt/Equity ratios for the most recent quarter are 1.59 and 1.86, respectively.

Other performance indicators worth keeping in mind in this stock is that its P/Cash for the most recent quarter is 418.04.

Analysts who have weighed on the stock have an average price target of $50.00 on it and average recommendation of 3.00.