Pyxis Tankers (NASDAQ:PXS) Posts Earnings Results, Beats Expectations By $0.07 EPS

Pyxis Tankers (NASDAQ:PXS) announced its quarterly earnings results on Monday. The transportation company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07, Zacks reports. Pyxis Tankers had a net margin of 20.00% and a return on equity of 8.35%. The firm had revenue of $12.13 million during the quarter, compared to analyst estimates of $10.34 million.

Pyxis Tankers Price Performance

Shares of NASDAQ:PXS opened at $6.23 on Wednesday. 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 stock has a market capitalization of $63.80 million, a PE ratio of 7.69 and a beta of -0.50. The firm’s 50 day moving average price is $4.71 and its 200-day moving average price is $4.44. Pyxis Tankers has a twelve month low of $2.56 and a twelve month high of $6.44.

Analysts Set New Price Targets

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

Institutional Trading of Pyxis Tankers

An institutional investor recently raised its position in Pyxis Tankers stock. Renaissance Technologies LLC raised its holdings in shares of Pyxis Tankers Inc. (NASDAQ:PXS) by 20.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,101 shares of the transportation company’s stock after acquiring an additional 14,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.82% of Pyxis Tankers worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 56.19% of the stock is owned by institutional investors and hedge funds.

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.