Skip to main content

Pyxis Tankers Inc. – Bulk Liquids Shipping Stock We Want To Buy

2017-12-11_Pyxis

Pyxis Tankers Inc. breakout -Pyxis Tankers Inc. Pyxis Tankers describes itself as “an emerging pure-play owner of a modern fleet of product tanker vessels engaged in the seaborne transportation of refined petroleum products and other liquid bulk items. ” Common shares of Pixys Tankers are listed on the NASDAQ Capital Markets under the trading symbol ‘PXS.’ Our strategies are now described and followed up in the Portfolio section. Pixys Tankers Investment strategy is described here.

 

2 Comments

  1. I see in the SEC filings that there was a resignation on the board and something about 2.5 mil shares being sold  (into the market I think). I don’t fully understand these filings. Can anyone give more clarity on this? Is there trouble with management with more downside to come or is the worst over with a recovery on the way? Any thoughts?
    Reply
  2. John, it seems like we are on the same… tanker.

    The press release about the $4.8 Million Private Placement of Common Stock reports that

    Pyxis Tankers will issue 2,400,000 shares of common stock at a price of $2.00 per share.

    I have frequently observed that stock prices are shooting higher ahead of placement announcements for the price to later settle back to or mostly below the placement price. In Pyxis’s case the opposite happened as the price spike occurred after the announcement.

    I should have realized that such a major spiking and reversal pattern may probably have been engineered in order for those was bought the shares from the placement closing on 8 Dec 2017 to make a massive short term profit and that it portended lower prices forward instead of being a nice technical set-up.

    This is certainly my poorest investment since I started the website and I must say that I own it on my private account and I tripled my bet at $2.20 recently only to see the price going down another 20% on last Friday (my average buying price is $3.13, very bad).

    Trend is still down and unless the company is heading into bankruptcy price may have shot past its equilibrium price and Friday’s lower spike on support levels on multiple time scales combined with an  oversold condition may testify about buying activities that could portend a short term bounce (for the least) in the coming days. Due to the price spiking lower at the opening of the session and the subsequent bounce I was looking for a higher closing price. $ is not that bad but the shape of the candle does not yet eliminate and downside risk essentially because it is still capped by a falling resistance.


    I will follow up next week and decide on how to act in order to exit with minimum damage in case a short-term short covering rally takes place. Worst case it will continue lower, best case it will recover. Let’s sharpen our teeth.

    Not too worried for my portfolio as I have multiple positions that are doing extremely well otherwise and yesterday was another increase of my long term porrtfolio.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

wp-puzzle.com logo

This site uses Akismet to reduce spam. Learn how your comment data is processed.

 
%d bloggers like this: