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

Pyxis Tankers Inc. (NASDAQ:PXS)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

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

Pyxis Tankers Stock Up 1.9%

The company has a quick ratio of 4.49, a current ratio of 4.53 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $50.07 million, a PE ratio of 13.97 and a beta of -0.52. 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 quarterly earnings results on Monday, May 18th. The transportation company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $9.98 million for the quarter, compared to analyst estimates of $10.05 million. Pyxis Tankers had a return on equity of 3.63% and a net margin of 9.27%.

Hedge Funds Weigh In On Pyxis Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in Pyxis Tankers by 38.2% during the first 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 during the period. NewEdge Advisors LLC bought a new stake in Pyxis Tankers in the first quarter worth about $113,000. Finally, XTX Topco Ltd bought a new stake in Pyxis Tankers in the fourth quarter worth about $29,000. 56.19% of the stock is 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.