Pyxis Tankers (NASDAQ:PXS) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Pyxis Tankers Inc. (NASDAQ:PXS)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.51 and traded as high as $5.20. Pyxis Tankers shares last traded at $5.16, with a volume of 26,741 shares trading hands.

Wall Street Analysts Forecast Growth

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

Pyxis Tankers Stock Up 0.4%

The company has a current ratio of 4.53, a quick ratio of 4.49 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $4.27. The company has a market cap of $52.84 million, a PE ratio of 14.74 and a beta of -0.52.

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

Hedge Funds Weigh In On Pyxis Tankers

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in Pyxis Tankers in the 4th quarter valued at $29,000. Renaissance Technologies LLC raised its holdings in shares of Pyxis Tankers by 20.1% during the 4th quarter. Renaissance Technologies LLC now owns 86,101 shares of the transportation company’s stock worth $242,000 after acquiring an additional 14,400 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in shares of Pyxis Tankers during the 1st quarter valued at about $113,000. Hedge funds and other institutional investors own 56.19% of the company’s stock.

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.