Pyxis Tankers Inc. (NASDAQ:PXS) Stock Short Interest Declines 42.8%

Pyxis Tankers Inc. (NASDAQ:PXS) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 21,660 shares, a drop of 42.8% from the September 15th total of 37,843 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 147,506 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Pyxis Tankers

An institutional investor recently raised its stake in Pyxis Tankers stock. NewEdge Advisors LLC lifted its holdings in Pyxis Tankers Inc. (NASDAQ:PXS) by 48.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,527 shares of the transportation company’s stock after buying an additional 12,830 shares during the quarter. NewEdge Advisors LLC owned 0.39% of Pyxis Tankers worth $164,000 as of its most recent SEC filing. Institutional investors own 56.19% of the company’s stock.

Pyxis Tankers Trading Down 6.7%

NASDAQ:PXS traded down $0.55 during trading hours on Thursday, hitting $7.63. The company had a trading volume of 59,068 shares, compared to its average volume of 73,648. Pyxis Tankers has a 1 year low of $2.56 and a 1 year high of $8.34. The company has a market cap of $78.13 million, a P/E ratio of 9.38 and a beta of -0.54. The company has a 50-day moving average of $6.38 and a 200 day moving average of $5.12. The company has a current ratio of 4.72, a quick ratio of 4.68 and a debt-to-equity ratio of 0.70.

Pyxis Tankers (NASDAQ:PXS) last released its quarterly earnings results on Monday, August 31st. The transportation company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Pyxis Tankers had a net margin of 20.00% and a return on equity of 8.24%. The firm had revenue of $12.13 million for the quarter, compared to analyst estimates of $10.34 million.

Wall Street Analyst Weigh In

Several research firms have weighed in on PXS. Weiss Ratings upgraded Pyxis Tankers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Alliance Global Partners reiterated a “buy” rating on shares of Pyxis Tankers in a research note on Tuesday, September 29th. Finally, Wall Street Zen raised Pyxis Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

About Pyxis Tankers

Pyxis Tankers Inc (NASDAQ: PXS) is a maritime transportation company that owns and operates a fleet of oceangoing vessels. The company primarily provides seaborne transportation for refined petroleum products, crude oil, vegetable oils and other liquid bulk cargoes, serving customers involved in the energy, commodities and industrial sectors.

Pyxis Tankers’ fleet has included product tankers and other commercial vessels, with operations focused on transporting cargoes through international shipping routes.