Pyxis Tankers (NASDAQ:PXS) Shares Cross Above 50-Day Moving Average – Here’s Why

Pyxis Tankers Inc. (NASDAQ:PXS)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.69 and traded as high as $4.59. Pyxis Tankers shares last traded at $4.43, with a volume of 41,910 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pyxis Tankers in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pyxis Tankers currently has a consensus rating of “Sell”.

Pyxis Tankers Price Performance

The stock’s fifty day moving average is $3.74 and its 200-day moving average is $3.17. The stock has a market capitalization of $46.26 million, a PE ratio of 23.21 and a beta of -0.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.43 and a quick ratio of 3.39.

Pyxis Tankers (NASDAQ:PXS) last released its quarterly earnings data on Thursday, March 5th. The transportation company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $10.54 million during the quarter, compared to analysts’ expectations of $11.22 million. Pyxis Tankers had a net margin of 5.11% and a return on equity of 2.01%.

Hedge Funds Weigh In On Pyxis Tankers

An institutional investor recently bought a new position in Pyxis Tankers stock. XTX Topco Ltd purchased a new position in shares of Pyxis Tankers Inc. (NASDAQ:PXS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,307 shares of the transportation company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.10% of Pyxis Tankers at the end of the most recent quarter. 56.19% of the stock is owned by institutional investors and hedge funds.

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.