Pyxis Tankers (NASDAQ:PXS) Announces Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Pyxis Tankers reported quarterly EPS of $0.27, beating analysts’ consensus estimate of $0.20 by $0.07. The company posted a 9.27% net margin and 3.63% return on equity.
• Shares were flat at $5.36, near the company’s 12-month high of $5.55, while trading volume exceeded its average. Pyxis Tankers reported strong liquidity, with a 4.49 quick ratio and 4.53 current ratio.
• Analyst sentiment remains cautious, with the stock holding an average “Hold” rating. Renaissance Technologies increased its stake by 20.1%, and institutional investors and hedge funds collectively own 56.19% of the shares.

Pyxis Tankers (NASDAQ:PXS - Get Free Report) posted 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 return on equity of 3.63% and a net margin of 9.27%.

Pyxis Tankers Price Performance

NASDAQ:PXS remained flat at $5.36 during midday trading on Monday. The company had a trading volume of 104,156 shares, compared to its average volume of 49,766. The stock has a market capitalization of $54.89 million, a price-to-earnings ratio of 15.31 and a beta of -0.52. The firm has a fifty day moving average of $4.66 and a two-hundred day moving average of $4.41. 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 has a twelve month low of $2.56 and a twelve month high of $5.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PXS shares. Wall Street Zen downgraded Pyxis Tankers from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Weiss Ratings raised shares of Pyxis Tankers from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Institutional Trading of Pyxis Tankers

A hedge fund recently raised its stake in Pyxis Tankers stock. Renaissance Technologies LLC grew its holdings in shares of Pyxis Tankers Inc. (NASDAQ:PXS - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,101 shares of the transportation company's stock after buying an additional 14,400 shares during the period. Renaissance Technologies LLC owned 0.82% of Pyxis Tankers worth $242,000 as of its most recent filing with the Securities and Exchange Commission. 56.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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