Would TOP Ships Inc. (NASDAQ:TOPS) change direction?

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TOP Ships Inc. (NASDAQ:TOPS) has reported EPS of $(2.20) for its last quarter.

The EPS that TOP Ships Inc. has announced for the recent quarter stemmed from sales of 16.81M%, which grew 1%% from the same period, a year ago.

To generate the revenue, TOP Ships Inc. recorded direct expenses amounting to $12.1M, being the cost of sales. After subtracting the same, the firm closed with gross profit of $4.71M.

Let’s look into the technical of the stock

The Barchart Technical Opinion rating is a 80% Sell with a Average short term outlook on maintaining the current direction. Longer term, the trend strength is Average. Long term indicators fully support a continuation of the trend. The market is in highly oversold territory. Beware of a trend reversal.

Because, company incurred other costs in the course of its businesses, deducting from the gross profit and dividing the variance by the number of shares due yielded the recorded revenue of $(2.20). Investors should bear in mind that TOP Ships Inc. closed the last quarter with diluted shares due amounting to 284,457.

TOP Ships Inc.’s debt exiting the last quarter amounted to 12.08M%, indicating that the debt grew/declined by falling from the preceding period.

What is TOP Ships Inc.?s liquidity position and can it continue funding its businesses? The firm closed the previous quarter with cash balance of 1.38M%, having posted free cash flow of $(19.8M) during the last quarter. Net cash flow from businesses during the quarter was $4.83M, resulting in net change in cash of $(427,000).

What about the performance of the firm’s balance sheet? TOP Ships Inc. had total assets of $143.32M at the end of the recent quarter, whereas total liabilities amounted to $96.06M.

As for the Wall Street sentiment pertaining the stock, some analysts have remarked on TOP Ships Inc. so far, giving it an average recommendation of . Investors should understand that a call of 1 up to 1.24 implies the stock is a BUY, whereas recommendation of 2.75 up to 3.00 implies a stock is a SELL.

TOP Ships Inc. (Nasdaq:TOPS) (“Top Ships” or the “Company”), an international owner and operator of modern, fuel efficient “ECO” MR tanker vessels focusing on the transportation of petroleum products, announced today 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.

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