TOP SHIPS (TOPS) falls 6% with hopes of comeback
TOP SHIPS Inc (TOPS) currently trades at $0.21 and has fallen by 6% today. Shares of TOP Ships Inc. were cut in half on very heavy volume in morning trading Tuesday after the Greece-based tanker vessel operator announced before the open the pricing of a large stock offering at a substantial discount. The stock fell 50.5% as trading volume ballooned to 120.8 million shares, already well above the full-day average of 29.5 million shares, and enough to make the stock the most actively traded on major U.S. exchanges.
Based on this information, investorsQ rates this stock 4 out of 10. We give it this rating based on current information such as the company said a registered direct offering of 40 million shares priced at 20 cents a share. The stock had closed Monday at 54 cents, and the company had about 25 million shares outstanding, according to FactSet data. The high forecast for TOP SHIPS Inc is $.50 and the low is $.15. Notably, the company’s market cap is $5.26 million with a 52 week high of $16.60 and a 52 week low of $0.07.