Pyxis Tankers (NASDAQ:PXS) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Shares of Pyxis Tankers Inc. (NASDAQ:PXS) passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 Analyst Weigh In

Several brokerages have recently issued reports on PXS. Weiss Ratings upgraded Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Pyxis Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. 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 Up 2.9%

The business’s 50 day simple moving average is $4.45 and its two-hundred day simple moving average is $4.20. The stock has a market cap of $51.50 million, a P/E ratio of 14.37 and a beta of -0.52. The company has a quick ratio of 4.49, a current ratio of 4.53 and a debt-to-equity ratio of 0.75.

Pyxis Tankers (NASDAQ:PXS) last announced its quarterly earnings results on Monday, May 18th. The transportation company reported $0.23 earnings per share (EPS) 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 company had revenue of $9.98 million during the quarter, compared to the consensus estimate of $10.05 million.

Hedge Funds Weigh In On Pyxis Tankers

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake 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 valued at $242,000 after purchasing an additional 14,400 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Pyxis Tankers during the fourth quarter worth $29,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Pyxis Tankers during the first quarter worth $113,000. 56.19% of the stock is currently owned by 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.