Pyxis Tankers (NASDAQ:PXS) Posts Earnings Results, Beats Expectations By $0.01 EPS

Pyxis Tankers (NASDAQ:PXS) announced its earnings results on Thursday. The transportation company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01, Zacks reports. The business had revenue of $10.54 million during the quarter, compared to the consensus estimate of $11.22 million. Pyxis Tankers had a net margin of 0.67% and a return on equity of 2.97%.

Pyxis Tankers Stock Performance

NASDAQ PXS traded up $0.14 during trading hours on Friday, hitting $4.08. 54,320 shares of the stock were exchanged, compared to its average volume of 52,298. The company has a quick ratio of 3.39, a current ratio of 3.43 and a debt-to-equity ratio of 0.72. The company has a market cap of $42.76 million, a price-to-earnings ratio of -16.98 and a beta of -0.69. Pyxis Tankers has a 12-month low of $2.47 and a 12-month high of $4.74. The stock has a 50-day moving average of $3.35 and a 200 day moving average of $3.01.

Hedge Funds Weigh In On Pyxis Tankers

A hedge fund recently raised its stake in Pyxis Tankers stock. Renaissance Technologies LLC lifted its stake in Pyxis Tankers Inc. (NASDAQ:PXS) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,101 shares of the transportation company’s stock after purchasing an additional 14,400 shares during the period. Renaissance Technologies LLC owned approximately 0.82% of Pyxis Tankers worth $242,000 as of its most recent SEC filing. 56.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pyxis Tankers in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pyxis Tankers presently has a consensus rating of “Sell”.

Pyxis Tankers declared that its Board of Directors has initiated a share repurchase program on Friday, November 21st that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the transportation company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.