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

Pyxis Tankers Inc. (NASDAQ:PXS)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.48 and traded as low as $4.39. Pyxis Tankers shares last traded at $4.39, with a volume of 16,796 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PXS. Weiss Ratings upgraded shares of Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Pyxis Tankers to a “strong-buy” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pyxis Tankers currently has a consensus rating of “Hold”.

Pyxis Tankers Trading Down 2.9%

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 business’s fifty day simple moving average is $4.48 and its two-hundred day simple moving average is $3.83. The company has a market cap of $44.95 million, a price-to-earnings ratio of 12.54 and a beta of -0.53.

Pyxis Tankers (NASDAQ:PXS) last released its quarterly earnings data 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. Pyxis Tankers had a net margin of 9.27% and a return on equity of 3.63%. The company had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $10.05 million.

Hedge Funds Weigh In On Pyxis Tankers

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Pyxis Tankers during the fourth quarter worth approximately $29,000. Renaissance Technologies LLC grew its position in shares of Pyxis Tankers by 20.1% during the fourth 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 last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Pyxis Tankers during the first quarter worth approximately $113,000. 56.19% of the stock is currently owned by hedge funds and other institutional investors.

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.