May 20, 2008
SpeculatingStocks.com Stock Pick: TOP Ships, Inc. (TOPS)
Stock Price: $10.28
TOP Ships, Inc. provides seaborne crude oil and petroleum products, and drybulk transportation services worldwide. As of December 17, 2007, it operated a fleet of 20 tankers comprising 12 double-hull Suezmax tankers and 8 double-hull Handymax tankers with a total carrying capacity of approximately 2.2 million deadweight tons.
TOPS recently did a reverse split about two months ago and has moved from the $7.00 level to the $10.00 level. Ocean shipping companies have been receiving a great deal of attention lately creating a posivite situation for TOPS, a relatively unknown name in the space.
We released Dryships, Inc. (DRYS) as a play in January of this year. It moved from our stock pick price of $60.55 to a high $116.43. We believe TOPS could make a similar kind of percentage move.
TOPS has a 52-week high of $25.45 and has a float of only 11.27 million. TOPS is trading at market cap of only $144.76 million.