ShiftPixy Inc. [NASDAQ: PIXY] stock went on an upward path that rose over 2.68% on Tuesday, amounting to a one-week price decrease of less than -26.37%. The company report on October 9, 2020 that ShiftPixy, Inc. Announces Pricing of $12 Million Public Offering.
ShiftPixy, Inc. (Nasdaq: PIXY), a Florida-based gig engagement platform provider, today announced the pricing of an underwritten public offering with expected total gross proceeds of $12,000,000, before deducting underwriting discounts, commissions and other offering expenses payable by the Company.
The securities offered by the Company consist of 4,000,000 shares of common stock together with warrants (the “Warrants”) to purchase up to 2,000,000 shares of common stock. Each share of common stock and accompanying Warrant are being sold together at a combined public offering price of $3.00. The Warrants will have an exercise price of $3.30 per share, will be immediately exercisable and will expire five (5) years from the date of issuance. The Company has granted the underwriter a 45-day option to purchase up to an additional 600,000 shares of common stock and/or Warrants to purchase up to 300,000 shares of common stock to cover over-allotments, if any.
Over the last 12 months, PIXY stock dropped by -85.08%.
The market cap for the stock reached $57.24 million, with 26.25 million shares outstanding and 3.22 million shares in the current float. Compared to the average trading volume of 2.75M shares, PIXY stock reached a trading volume of 1001032 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on ShiftPixy Inc. [PIXY]:
The Average True Range (ATR) for ShiftPixy Inc. is set at 0.24, with the Price to Sales ratio for PIXY stock in the period of the last 12 months amounting to 2.58. The Price to Book ratio for the last quarter was 10.72, with the Price to Cash per share for the same quarter was set at 0.51.
PIXY Stock Performance Analysis:
ShiftPixy Inc. [PIXY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.37. With this latest performance, PIXY shares dropped by -33.00% in over the last four-week period, additionally sinking by -62.98% over the last 6 months – not to mention a drop of -85.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PIXY stock in for the last two-week period is set at 23.58, with the RSI for the last a single of trading hit 16.33, and the three-weeks RSI is set at 27.83 for ShiftPixy Inc. [PIXY]. The present Moving Average for the last 50 days of trading for this stock 4.06, while it was recorded at 3.06 for the last single week of trading, and 6.19 for the last 200 days.
Insight into ShiftPixy Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and ShiftPixy Inc. [PIXY] shares currently have an operating margin of -18.10 and a Gross Margin at +21.62. ShiftPixy Inc.’s Net Margin is presently recorded at -35.05.
Reflecting on the efficiency of the workforce at the company, ShiftPixy Inc. [PIXY] managed to generate an average of -$279,507 per employee. Receivables Turnover for the company is 6.66 with a Total Asset Turnover recorded at a value of 2.70.ShiftPixy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
ShiftPixy Inc. [PIXY] Insider Position Details
There are presently around $0 million, or 1.10% of PIXY stock, in the hands of institutional investors. The top three institutional holders of PIXY stocks are: TOWERPOINT WEALTH, LLC with ownership of 80,000, which is approximately 377.612% of the company’s market cap and around 77.20% of the total institutional ownership; CITADEL ADVISORS LLC, holding 28,311 shares of the stock with an approximate value of $76000.0 in PIXY stocks shares; and SCHONFELD STRATEGIC ADVISORS LLC, currently with $69000.0 in PIXY stock with ownership of nearly New of the company’s market capitalization.
Positions in ShiftPixy Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 13 institutional holders increased their position in ShiftPixy Inc. [NASDAQ:PIXY] by around 167,529 shares. Additionally, 7 investors decreased positions by around 46,788 shares, while 0 investors held positions by with 28,585 shares. The mentioned changes placed institutional holdings at 185,732 shares, according to the latest SEC report filing. PIXY stock had 10 new institutional investments in for a total of 99,558 shares, while 7 institutional investors sold positions of 46,788 shares during the same period.