Pyxis Tankers (NASDAQ:PXS) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Pyxis Tankers Inc. (NASDAQ:PXS) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.46 and traded as low as $4.05. Pyxis Tankers shares last traded at $4.14, with a volume of 62,397 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on PXS. Weiss Ratings raised Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Pyxis Tankers to a “strong-buy” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Pyxis Tankers Stock Performance

The firm has a market capitalization of $42.39 million, a price-to-earnings ratio of 11.83 and a beta of -0.53. The company has a 50-day moving average price of $4.46 and a 200-day moving average price of $3.92. The company has a quick ratio of 4.49, a current ratio of 4.53 and a debt-to-equity ratio of 0.75.

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

Institutional Investors Weigh In On Pyxis Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of PXS. Renaissance Technologies LLC grew its position in Pyxis Tankers by 38.2% in the 1st quarter. Renaissance Technologies LLC now owns 119,001 shares of the transportation company’s stock valued at $505,000 after buying an additional 32,900 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Pyxis Tankers during the 1st quarter worth about $113,000. Finally, XTX Topco Ltd bought a new stake in shares of Pyxis Tankers during the 4th quarter worth about $29,000. 56.19% of the stock is currently owned by 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.