TOP Financial Group (NASDAQ:TOP) Stock Price Down 6.7% - Here's Why

Key Points

• TOP Financial Group shares fell 6.7% to $15.61 during Monday trading, with volume slightly above average.
• Analyst sentiment remains negative: the stock has an average “Sell” rating, despite one recent upgrade to “Hold.”
• The company reported a quarterly loss of $0.02 per share on $1.08 million in revenue, while institutional investors own just 0.26% of its outstanding stock.

TOP Financial Group Limited (NASDAQ:TOP - Get Free Report)'s share price fell 6.7% during trading on Monday . The stock traded as low as $15.55 and last traded at $15.61. 96,899 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 89,602 shares. The stock had previously closed at $16.73.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TOP shares. Wall Street Zen upgraded shares of TOP Financial Group to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings upgraded TOP Financial Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

TOP Financial Group Stock Performance

The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.02. The stock's 50 day moving average price is $10.99 and its 200 day moving average price is $6.90. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -777.50 and a beta of -1.12.

TOP Financial Group (NASDAQ:TOP - Get Free Report) last released its quarterly earnings data on Monday, August 17th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $1.08 million during the quarter.

Hedge Funds Weigh In On TOP Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of TOP. Susquehanna International Group LLP lifted its holdings in shares of TOP Financial Group by 42.0% in the third quarter. Susquehanna International Group LLP now owns 51,793 shares of the company's stock worth $67,000 after acquiring an additional 15,330 shares during the last quarter. XTX Topco Ltd acquired a new position in TOP Financial Group during the 4th quarter worth about $35,000. Virtu Financial LLC acquired a new stake in shares of TOP Financial Group in the third quarter valued at about $42,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of TOP Financial Group in the second quarter worth approximately $1,035,000. Institutional investors own 0.26% of the company's stock.

About TOP Financial Group

TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of local and overseas equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company provides a range of futures products, such as index futures, forex futures, agricultural product futures, energy futures, and precious metal futures.

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