Maxim Group lowered shares of Pyxis Tankers (NASDAQ:PXS) from a buy rating to a hold rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has $3.00 price target on the transportation company’s stock.

“PXS tankers traded up to a high of $9.20 on Friday, on unusual volume (~14 million shares). We are downgrading PXS to Hold, from Buy, as the shares closed at $4.10 on Friday, up over 100% and now well above our $3 price target. Based on our sources and channel checks, we have been unable to find any fundamental evidence to substantiate the price movement beyond our price target of $3. We maintain our view that PXS shares should be valued on 2018E NAV, which we calculate to be roughly $3 per share.”,” the firm’s analyst commented.

PXS has been the subject of a number of other reports. Aegis initiated coverage on Pyxis Tankers in a research report on Wednesday, August 9th. They issued a buy rating and a $3.50 price target for the company. ValuEngine lowered Pyxis Tankers from a hold rating to a sell rating in a research report on Thursday, November 16th.

Shares of Pyxis Tankers (NASDAQ PXS) traded down $0.99 during trading hours on Monday, hitting $3.91. The stock had a trading volume of 2,589,700 shares, compared to its average volume of 176,580. The company has a current ratio of 0.17, a quick ratio of 0.12 and a debt-to-equity ratio of 1.41. Pyxis Tankers has a one year low of $0.90 and a one year high of $12.22.

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About Pyxis Tankers

Pyxis Tankers Inc is a holding company. The Company is an international maritime transportation company focused on the product tanker sector. It owns a fleet of six double hull product tankers: Pyxis Epsilon with carrying capacity of approximately 50,300 deadweight tonnage (dwt); Pyxis Theta with carrying capacity of approximately 51,800 dwt, Pyxis Malou with carrying capacity of over 50,670 dwt; Pyxis Delta with carrying capacity of approximately 46,620 dwt; Northsea Beta with carrying capacity of over 8,650 dwt, and Northsea Alpha with carrying capacity of approximately 8,615 dwt.

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