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

Pyxis Tankers Inc. (NASDAQ:PXS) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.40 and traded as low as $4.20. Pyxis Tankers shares last traded at $4.31, with a volume of 11,231 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on PXS shares. Weiss Ratings upgraded shares of Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of Pyxis Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Pyxis Tankers has a consensus rating of “Hold”.

Pyxis Tankers Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 4.53 and a quick ratio of 4.49. The business has a 50-day moving average of $4.40 and a 200-day moving average of $4.02. The company has a market capitalization of $44.13 million, a P/E ratio of 12.31 and a beta of -0.52.

Pyxis Tankers (NASDAQ:PXS) last posted its quarterly earnings data on Monday, May 18th. The transportation company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $10.05 million. Pyxis Tankers had a net margin of 9.27% and a return on equity of 3.63%.

Institutional Trading of Pyxis Tankers

Several institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Pyxis Tankers during the fourth quarter valued at approximately $29,000. Renaissance Technologies LLC lifted its stake in shares of Pyxis Tankers by 20.1% during the 4th 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 bought a new stake in shares of Pyxis Tankers during the 1st quarter worth approximately $113,000. Institutional investors own 56.19% of the company’s stock.

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.