Pyxis Tankers (NASDAQ:PXS) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Shares of Pyxis Tankers Inc. (NASDAQ:PXS) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.44 and traded as high as $4.89. Pyxis Tankers shares last traded at $4.89, with a volume of 55,175 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. 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 Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Pyxis Tankers Stock Up 1.9%

The firm has a market capitalization of $50.07 million, a P/E ratio of 13.97 and a beta of -0.52. 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 stock has a 50 day moving average of $4.44 and a 200-day moving average of $4.20.

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

Institutional Trading of Pyxis Tankers

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

About Pyxis Tankers

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.