Pyxis Tankers (NASDAQ:PXS) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Pyxis Tankers Inc. (NASDAQ:PXS) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.46 and traded as low as $4.05. Pyxis Tankers shares last traded at $4.14, with a volume of 62,397 shares trading hands.

Analyst Upgrades and Downgrades

PXS has been the subject of a number of analyst reports. 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 upgraded Pyxis Tankers to a “strong-buy” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Pyxis Tankers currently has a consensus rating of “Hold”.

Pyxis Tankers Price Performance

The company has a market cap of $43.01 million, a PE ratio of 12.00 and a beta of -0.52. The business has a 50 day moving average of $4.45 and a 200 day moving average of $3.93. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.53 and a quick ratio of 4.49.

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

Institutional Trading of Pyxis Tankers

Several institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in Pyxis Tankers in the 4th quarter worth $29,000. Renaissance Technologies LLC lifted its position in shares of Pyxis Tankers by 20.1% in the fourth quarter. Renaissance Technologies LLC now owns 86,101 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 14,400 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Pyxis Tankers in the first quarter worth about $113,000. 56.19% of the stock is currently owned by 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.