Stock Repurchase Program Announced by Pyxis Tankers (NASDAQ:PXS) Board

Pyxis Tankers (NASDAQ:PXS) declared that its Board of Directors has authorized a share repurchase program on Friday, November 21st, RTT News reports. The company plans to buyback $3.00 million in outstanding shares. This buyback authorization allows the transportation company to buy up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Pyxis Tankers in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Pyxis Tankers has a consensus rating of “Sell”.

Pyxis Tankers Trading Up 8.8%

Shares of PXS opened at $2.85 on Friday. Pyxis Tankers has a 12 month low of $2.47 and a 12 month high of $4.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.02 and a quick ratio of 2.92. The stock has a market cap of $29.89 million, a PE ratio of -71.25 and a beta of -0.64. The stock’s 50-day moving average is $2.79 and its two-hundred day moving average is $2.84.

Pyxis Tankers (NASDAQ:PXS) last posted its quarterly earnings results on Thursday, November 20th. The transportation company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). The business had revenue of $9.70 million for the quarter, compared to analyst estimates of $9.78 million. Pyxis Tankers had a net margin of 6.26% and a return on equity of 5.39%.

Pyxis Tankers Company Profile

Pyxis Tankers, Inc is an international maritime transportation holding company, which engages in the ownership and operation of a fleet of product tankers. It also deals with the seaborne transportation and shipping of refined petroleum products and other bulk liquids. It operates through the Tanker Vessels and Dry-bulk Vessels segments.