Pyxis Tankers (NASDAQ:PXS) Stock Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Pyxis Tankers shares crossed above their 50-day moving average, reaching $5.20 before closing at $5.16, compared with a 50-day average of $4.51.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock to “buy,” Weiss Ratings upgraded it to “hold,” and the overall analyst consensus is “Hold.”
• The company exceeded quarterly EPS expectations, reporting $0.23 versus the $0.17 consensus, while revenue of $9.98 million fell slightly short of estimates. Hedge funds and other institutional investors own 56.19% of the stock.

Shares of Pyxis Tankers Inc. (NASDAQ:PXS - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.51 and traded as high as $5.20. Pyxis Tankers shares last traded at $5.16, with a volume of 26,741 shares traded.

Wall Street Analysts Forecast Growth

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

Pyxis Tankers Trading Up 0.4%

The firm has a market capitalization of $52.84 million, a price-to-earnings ratio of 14.74 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. The firm's 50 day moving average is $4.51 and its 200 day moving average is $4.27.

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

Institutional Investors Weigh In On Pyxis Tankers

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in Pyxis Tankers by 38.2% in the 1st quarter. Renaissance Technologies LLC now owns 119,001 shares of the transportation company's stock worth $505,000 after purchasing an additional 32,900 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Pyxis Tankers during the first quarter valued at about $113,000. Finally, XTX Topco Ltd acquired a new position in shares of Pyxis Tankers in the fourth quarter worth about $29,000. 56.19% of the stock is owned by hedge funds and other institutional investors.

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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