Maxim Group analyst Tate Sullivan maintained a Buy rating on Top Ships Inc (TOPS) yesterday and set a price target of $10. The company’s shares closed last Monday at $6.95, close to its 52-week low of $5.40.
Sullivan commented:
“TOPS shares are currently up ~15% today following the announcement of 1H19 results after yesterday’s close; revenue of $29.8 million was above our $22.5 million forecast, and up 51% y/y as TOPS added four ships.”
According to TipRanks.com, Sullivan is a 1-star analyst with an average return of -0.7% and a 50.5% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Envision Solar International Inc, Capstone Turbine Corp, and BioHiTech Global Inc.
Currently, the analyst consensus on Top Ships Inc is a Moderate Buy with an average price target of $10.
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The company has a one-year high of $54 and a one-year low of $5.40. Currently, Top Ships Inc has an average volume of 657.2K.
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Top Ships, Inc. is an international owner and operator of modern, fuel efficient eco medium range, or medium range tanker vessels. It focuses on the transportation of crude oil, petroleum products and bulk liquid chemicals. The company was founded by Evangelos J. Pistiolis on January 10, 2000 and is headquartered in Maroussi, Greece.
