Pyxis Tankers (NASDAQ:PXS) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Pyxis Tankers Inc. (NASDAQ:PXS) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Pyxis Tankers to a “strong-buy” rating in a research report on Saturday, April 25th. Weiss Ratings raised Pyxis Tankers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Pyxis Tankers has a consensus rating of “Hold”.

Pyxis Tankers Stock Down 0.5%

The company has a debt-to-equity ratio of 0.75, a current ratio of 4.53 and a quick ratio of 4.49. The stock has a market capitalization of $42.39 million, a P/E ratio of 11.83 and a beta of -0.53. The stock’s fifty day moving average is $4.46 and its two-hundred day moving average is $3.92.

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

Hedge Funds Weigh In On Pyxis Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Pyxis Tankers in the 4th quarter worth about $29,000. NewEdge Advisors LLC acquired a new position in shares of Pyxis Tankers in the first quarter worth about $113,000. Finally, Renaissance Technologies LLC boosted its holdings 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 worth $242,000 after buying an additional 14,400 shares during the period. Institutional investors and hedge funds own 56.19% of the company’s stock.

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.