ShiftPixy (PIXY) Shares Down 10.8%

ShiftPixy Inc (NASDAQ:PIXY) shares dropped 10.8% during trading on Monday . The stock traded as low as $1.04 and last traded at $1.07. Approximately 2,705,098 shares traded hands during mid-day trading, an increase of 576% from the average daily volume of 400,301 shares. The stock had previously closed at $1.20.

The company has a market capitalization of $33.29 million, a P/E ratio of -1.80 and a beta of 1.29.

ShiftPixy (NASDAQ:PIXY) last posted its quarterly earnings results on Monday, April 15th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company had revenue of $13.19 million during the quarter, compared to analysts’ expectations of $14.84 million. On average, sell-side analysts expect that ShiftPixy Inc will post -0.11 EPS for the current year.

A hedge fund recently raised its stake in ShiftPixy stock. Vanguard Group Inc increased its stake in ShiftPixy Inc (NASDAQ:PIXY) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,515 shares of the company’s stock after buying an additional 9,598 shares during the period. Vanguard Group Inc owned 0.16% of ShiftPixy worth $180,000 as of its most recent SEC filing. 1.98% of the stock is owned by hedge funds and other institutional investors.

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About ShiftPixy (NASDAQ:PIXY)

ShiftPixy, Inc provides employment services for businesses; and workers in shift or other part-time/temporary positions in the United States. The company also operates as a payroll processor, human resources consultant, and administrator of workers' compensation coverages and claims. It primarily serves restaurant, hospitality, and maintenance service industries.

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