Shares of Top Ships Inc. (NASDAQ:TOPS) last traded at $0.50. (NASDAQ:TOPS) performance year to date is -98.88%. The 200 day simple moving average is -98.96%. The 200 simple moving average (SMA) is considered a key indicator by traders and market analysts for determining the overall long-term trend. The price level in a market that coincides with the 200 SMA is recognized as a major support when price is above the 200 SMA or resistance when price is below the 200 SMA level.
TOP SHIPS Inc., formerly known as TOP Tankers Inc., is an international provider of worldwide seaborne crude oil and petroleum products and of drybulk transportation services. Upon delivery of one tanker to its new owners, the Company will operate a fleet of 19 tankers, consisting of 11 double-hull Suezmax tankers and 8 double-hull Handymax tankers, with a total carrying capacity of approximately 2.0 million dwt, of which 78% are sister ships, and two drybulk vessels.
Top Ships Inc. (NASDAQ:TOPS) has been in the news for all the right reasons. Recently, Top Ships Inc. (NASDAQ:TOPS) announced that it has agreed to enter into a Note Purchase Agreement (the “Purchase Agreement”) with Xanthe Holdings Ltd. (“Xanthe”), an unaffiliated party, pursuant to which the Company will issue an unsecured promissory note in the original principal amount of $5,000,000 (the “Promissory Note”) to Xanthe. Proceeds from the note will be used by the Company for general corporate purposes including further asset acquisitions.
The Barchart Technical Opinion rating is a 88% Sell with a Weakening short term outlook on maintaining the current direction. Longer term, the trend strength is Strong. Long term indicators fully support a continuation of the trend. The market is in highly oversold territory. Beware of a trend reversal.
The Exponential Moving Average (EMA) is similar to a simple moving average (average price over a set period) but it utilizes a weighting factor that exponentially declines from the most recent data point (recent prices are weighted higher than oid prices). EMA analysis compares the short term (5 days and 13 days), intermediate term (20 days) and long term (50 days) EMA’s. The respective EMA’s will give bullish signals when trading above trailing EMA’s and below the current price and vice versa. EMA alerts include crossovers (i.e the 5 day EMA crosses above/below the 20 day EMA) and EMA convergencies (5 day EMA equivalent to 13 day EMA). The 5 day EMA 0.93 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 13.54 is also higher than the current trading price depicting a bearish trend overall..
The relative strength index (RSI) is a momentum oscillator that is able to measure the velocity and magnitude of stock price changes. Momentum is calculated as the ratio of positive price changes to negative price changes. The RSI analysis compares the current RSI against neutral(50), oversold (30) and overbought (70) conditions. Alerts will inform you when stocks recede from oversold/overbought levels or breakthrough neutral (50). The current RSI is 18.51 suggesting a bearish price action.
Top Ships Inc. (NASDAQ:TOPS) is all set to announce its earnings on -. As per Zack’s analyst ratings, Top Ships Inc. (NASDAQ:TOPS) currently has an average brokerage rating of . On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:TOPS) is $ with a high of $ and a low of $.
As such, while we believe Top Ships Inc. (NASDAQ:TOPS) represents a compelling growth story exposed to several secularly attractive markets, it would be interesting to see how it fairs for long-term investors.