Zacks Investment Research Lowers Pyxis Tankers (NASDAQ:PXS) to Hold

Pyxis Tankers (NASDAQ:PXSGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Pyxis Tankers Inc. provides marine transportation. The Company offers transporting refined petroleum products such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil as well as other liquid bulk items, including organic chemicals. Pyxis Tankers Inc. is based in Maroussi, Greece. “

Separately, HC Wainwright began coverage on Pyxis Tankers in a report on Tuesday, April 12th. They issued a “buy” rating and a $1.50 price target for the company.

Shares of NASDAQ:PXS opened at $0.68 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. Pyxis Tankers has a 1 year low of $0.35 and a 1 year high of $1.10. The stock has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $0.61.

Pyxis Tankers (NASDAQ:PXSGet Rating) last issued its earnings results on Friday, March 18th. The transportation company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.07). Pyxis Tankers had a negative return on equity of 24.39% and a negative net margin of 48.69%. The firm had revenue of $8.10 million for the quarter, compared to analysts’ expectations of $6.16 million. On average, equities analysts predict that Pyxis Tankers will post 0.06 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Pyxis Tankers stock. Warberg Asset Management LLC raised its holdings in Pyxis Tankers Inc. (NASDAQ:PXSGet Rating) by 100.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the transportation company’s stock after purchasing an additional 25,000 shares during the period. Warberg Asset Management LLC owned about 0.13% of Pyxis Tankers worth $38,000 as of its most recent SEC filing. Institutional investors own 55.47% of the company’s stock.

About Pyxis Tankers (Get Rating)

Pyxis Tankers Inc operates as a maritime transportation company with a focus on the tanker sector in the United States. Its fleet transports refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, and fuel oil, as well as other liquid bulk items, including vegetable oils and organic chemicals.

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