Pyxis Tankers Inc. (NASDAQ:PXS) Sees Significant Increase in Short Interest

Pyxis Tankers Inc. (NASDAQ:PXS) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 17,968 shares, a growth of 23.5% from the December 15th total of 14,544 shares. Based on an average daily volume of 23,869 shares, the short-interest ratio is currently 0.8 days. Approximately 0.4% of the company’s shares are short sold. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 23,869 shares, the short-interest ratio is currently 0.8 days.

Pyxis Tankers Trading Down 2.1%

NASDAQ PXS opened at $3.23 on Tuesday. The stock has a market cap of $33.88 million, a P/E ratio of -13.46 and a beta of -0.71. Pyxis Tankers has a fifty-two week low of $2.47 and a fifty-two week high of $4.04. The stock has a 50 day simple moving average of $2.92 and a two-hundred day simple moving average of $2.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.39 and a current ratio of 3.43.

Pyxis Tankers (NASDAQ:PXS) last announced its earnings results on Thursday, November 20th. The transportation company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pyxis Tankers had a net margin of 0.67% and a return on equity of 2.97%. The business had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.78 million.

Pyxis Tankers declared that its Board of Directors has initiated a share buyback plan on Friday, November 21st that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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

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.