Pyxis Tankers (NASDAQ:PXS) Stock Passes Below 50 Day Moving Average – Time to Sell?

Pyxis Tankers Inc. (NASDAQ:PXS) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.40 and traded as low as $4.20. Pyxis Tankers shares last traded at $4.31, with a volume of 11,231 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PXS. Wall Street Zen downgraded Pyxis Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings raised shares of Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Pyxis Tankers Stock Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.49 and a current ratio of 4.53. The business’s fifty day simple moving average is $4.40 and its 200-day simple moving average is $4.02. The firm has a market capitalization of $44.13 million, a PE ratio of 12.31 and a beta of -0.52.

Pyxis Tankers (NASDAQ:PXS) last released its earnings results on Monday, May 18th. The transportation company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $9.98 million for the quarter, compared to the consensus estimate of $10.05 million. Pyxis Tankers had a net margin of 9.27% and a return on equity of 3.63%.

Institutional Investors Weigh In On Pyxis Tankers

A number of hedge funds have recently made changes to their positions in PXS. Renaissance Technologies LLC boosted its stake in Pyxis Tankers by 20.1% during the fourth quarter. Renaissance Technologies LLC now owns 86,101 shares of the transportation company’s stock valued at $242,000 after buying an additional 14,400 shares during the last quarter. XTX Topco Ltd bought a new stake in Pyxis Tankers in the 4th quarter worth approximately $29,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Pyxis Tankers during the 1st quarter worth approximately $113,000. 56.19% of the stock is currently owned by hedge funds and other institutional investors.

Pyxis Tankers Company Profile

Pyxis Tankers Inc is a Greece-based maritime transportation company specializing in the ownership and operation of medium-range (“MR”) product tankers. The company’s vessels, each with a deadweight capacity typically ranging from 35,000 to 54,000 metric tons, are designed to carry refined petroleum products such as gasoline, diesel, jet fuel and other clean petroleum products. Pyxis Tankers generates revenue through a combination of spot market voyages and time-charter contracts, catering to oil majors, trading houses and other charterers seeking flexible delivery solutions.

Founded in 2017 and headquartered in Athens, Greece, Pyxis Tankers completed its initial public offering on the Nasdaq Stock Market in April 2018 under the ticker symbol PXS.