Streetbeat News

TOPS

Top Ships Inc.

https://www.topships.org

Industry

Marine Shipping

Top Ships Inc. owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers. The company was formerly known as Top Tankers Inc. and changed its name to Top Ships Inc. in December 2007. Top Ships Inc. was incorporated in 2000 and is based in Maroussi, Greece.

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Shares of oil and gas companies are trading lower due to concerns about an economic slowdown following recent US data, which could negatively impact demand.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 2:32 pm

TOP Ships shares have resumed trading after a temporary halt. The resumption of trading could lead to increased volatility in the stock price as investors react to the news.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:55 pm

TOP Ships has announced 7-year charter extensions for its vessels M/T Eco Yosemite Park and M/T Eco Joshua Park at a new daily hire rate of $19,500, effective August 1, 2024. The extensions are expected to generate $100 million in revenue over the firm period.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:36 pm

Trading of TOP Ships Inc. (TOPS) has been halted pending news. Investors are awaiting further information that could significantly impact the stock price.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:25 pm

The article highlights three oversold energy stocks with RSI values below 30, indicating potential buying opportunities. The stocks mentioned are TOP SHIPS Inc (NYSE:TOPS), Opal Fuels Inc (NASDAQ:OPAL), and Vertex Energy Inc (NASDAQ:VTNR).

Portfolio Pulse from Avi Kapoor

July 03, 2024 | 12:33 pm

TOP Ships Inc. has started a time charter for its tanker M/T Eco Marina Del Rey at a rate 36% higher than its previous charter, expecting to generate $22.4M in revenue over the firm 3-year period, and potentially $30.7M if extended for an additional year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:45 pm

TOP Ships Inc., a shipping company, has announced its decision to transfer its stock listing from the Nasdaq to the NYSE American exchange. This strategic move is aimed at leveraging the NYSE American's unique market model to enhance the company's visibility and liquidity.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:38 pm

Imperial Petroleum Inc. (IMPP) and Top Ships Inc. (TOPS) are identified as overbought energy stocks with RSI values of 79.96 and 74.57, respectively. IMPP's stock rose 42% over the past month after a warrant repurchase agreement, while TOPS gained 115% following a share repurchase program announcement. Both stocks are considered overbought and may face a downturn in Q4.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 1:24 pm

TOP Ships Inc. has announced a share repurchase program with a budget of $4 million to be executed over a period of three months. The specific timing and amount of shares to be repurchased were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 1:19 pm

Top Ships Inc. (NASDAQ:TOPS) has updated its net asset value (NAV) estimate to $344 million, up from the previous $285 million. This equates to a NAV per common share of $74.36 and $61.15 on a fully diluted basis. The company's contracted revenue backlog has also increased to $400 million. The Board is considering shareholder-friendly actions, such as a share buyback plan. The CEO highlighted the company's modern fleet, positive cash flow, and income generation, with the revenue backlog being 5 times the 2022 revenues and 1.9 times the net debt.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:38 pm

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