Thursday, June 03, 2021

Pyxis Tankers Inc. (PXS)
Slightly Better Quarter and Acquisition Set to Close in 3Q2021

Pyxis Tankers Inc is a United States-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of double hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Pyxis Delta, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adjusted EBITDA of $0.8 million was better than expected. Higher TCE revenue of $4.3 million and higher rates of $12.7k/day drove the positive variance.


Increasing 2021 EBITDA estimate to $6.5 million from $5.5 million to reflect the positive quarterly variance and timing of the pending acquisition.  TCE revenue of $21.7 million is positively impacted by higher TCE rates of $12.3k/day and more ownership days of 1,976 …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.