Pyxis Tankers (PXS) Downgraded to “Hold” at Maxim Group

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.

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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.

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