Maxim Group Lowers Pyxis Tankers (PXS) to Hold
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.
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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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