Recent insider trends for Top Ships Inc. (NASDAQ:TOPS) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of TOPS, the data has some interesting implications for where the stock might be headed.
Institutions own 00.02% of Top Ships Inc. (TOPS)’s shares. The total value of these holdings, in millions, is $0. Among active positions in the latest quarter, 7 holders increased their positions by a total of 2688 shares, 3 holders decreased the positions by a total of 7 shares, and 1 holders held their positions. This works out to a net increase in ownership of 2681 shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 7 holders initiated new positions by a total of 462 shares and 3 holders exited their positions by a total of 7 shares. This nets out to an increase of 455 shares and is a bullish sign for TOPS.
Insider ownership increased by a total of 0 shares, which suggests that TOPS’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Top Ships Inc. (NASDAQ:TOPS)’s short interest is 1.31 million shares, or % of the float. This represents an increase of 143% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that TOPS is a sell, which implies that TOPS is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Top Ships Inc. (NASDAQ:TOPS) is overvalued.