Pyxis Tankers (NASDAQ:PXS) was downgraded by analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Monday, December 4th, Marketbeat reports. They presently have a $3.00 price objective on the transportation company’s stock. Maxim Group’s price target suggests a potential downside of 33.92% from the stock’s current price.
The analysts wrote, “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.””
A number of other equities research analysts have also issued reports on the stock. Aegis assumed coverage on shares of Pyxis Tankers in a report on Wednesday, August 9th. They set a “buy” rating and a $3.50 price target on the stock. ValuEngine lowered shares of Pyxis Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th.
Pyxis Tankers (NASDAQ:PXS) traded down $0.13 during mid-day trading on Monday, reaching $4.54. 279,200 shares of the company traded hands, compared to its average volume of 233,248. Pyxis Tankers has a fifty-two week low of $0.90 and a fifty-two week high of $12.22. The company has a quick ratio of 0.12, a current ratio of 0.17 and a debt-to-equity ratio of 1.41.
TRADEMARK VIOLATION NOTICE: “Pyxis Tankers (PXS) Downgraded to “Hold” at Maxim Group” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/14/pyxis-tankers-pxs-downgraded-by-maxim-group-to-hold.html.
Pyxis Tankers Company Profile
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.
Receive News & Ratings for Pyxis Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pyxis Tankers and related companies with MarketBeat.com's FREE daily email newsletter.