ShiftPixy Inc. [PIXY] is -28.21% lower this YTD. Is it still time to buy?

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ShiftPixy Inc. [NASDAQ: PIXY] stock went on an upward path that rose over 25.55% on Tuesday, amounting to a one-week price increase of more than 19.64%. The company report on March 18, 2022 that ShiftPixy, Inc. Announces Revised SPAC Sponsorship.


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ShiftPixy, Inc. (NASDAQ: PIXY), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the withdrawal of registration statements on Form S-1 previously filed with the Securities and Exchange Commission relating to three special purpose acquisition companies (“SPACs”) for which its wholly owned subsidiary, ShiftPixy Investments, Inc., had previously been identified as the Sponsor: Vital Human Capital, Inc.; TechStackery, Inc.; and Firemark Global Capital, Inc. Instead, ShiftPixy is devoting its resources to assisting its other sponsored SPAC, Industrial Human Capital, Inc. (NYSE: AXH), which previously consummated its initial public offering, to completing its initial business combination as quickly as possible. Explaining this decision, ShiftPixy CEO Scott Absher commented: “After considering our options and the current market environment, we determined that the best use of our time and resources would be to devote ourselves to the Industrial Human Capital de-SPAC process. We concluded that ShiftPixy can best achieve its SPAC sponsorship goals, including expansion of its own footprint, by doing everything possible to ensure Industrial Human Capital’s ultimate success without distraction. Our decision to withdraw our sponsorship from the other SPACs does not impact our goal of building large national staffing clients to operate on the ShiftPixy technology platform, which remains unchanged and continues to move forward.”.

Over the last 12 months, PIXY stock dropped by -64.71%.

The market cap for the stock reached $29.96 million, with 35.95 million shares outstanding and 20.42 million shares in the current float. Compared to the average trading volume of 7.44M shares, PIXY stock reached a trading volume of 8726669 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 0.07, with the Price to Sales ratio for PIXY stock in the period of the last 12 months amounting to 1.00. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 0.05.

PIXY Stock Performance Analysis:

ShiftPixy Inc. [PIXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.64. With this latest performance, PIXY shares dropped by -1.33% in over the last four-week period, additionally sinking by -22.94% over the last 6 months – not to mention a drop of -64.71% 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 55.46, with the RSI for the last a single of trading hit 66.49, and the three-weeks RSI is set at 50.57 for ShiftPixy Inc. [PIXY]. The present Moving Average for the last 50 days of trading for this stock 0.9855, while it was recorded at 0.7196 for the last single week of trading, and 1.2901 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 -116.76 and a Gross Margin at -0.15. ShiftPixy Inc.’s Net Margin is presently recorded at -116.85.

ShiftPixy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

ShiftPixy Inc. [PIXY] Insider Position Details

There are presently around $3 million, or 12.50% of PIXY stock, in the hands of institutional investors. The top three institutional holders of PIXY stocks are: ARMISTICE CAPITAL, LLC with ownership of 2,850,000, which is approximately 0% of the company’s market cap and around 46.11% of the total institutional ownership; VANGUARD GROUP INC, holding 279,424 shares of the stock with an approximate value of $0.19 million in PIXY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.15 million in PIXY stock with ownership of nearly 14.103% of the company’s market capitalization.

Positions in ShiftPixy Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 15 institutional holders increased their position in ShiftPixy Inc. [NASDAQ:PIXY] by around 466,625 shares. Additionally, 8 investors decreased positions by around 220,664 shares, while 4 investors held positions by with 3,519,447 shares. The mentioned changes placed institutional holdings at 4,206,736 shares, according to the latest SEC report filing. PIXY stock had 9 new institutional investments in for a total of 372,193 shares, while 4 institutional investors sold positions of 64,023 shares during the same period.

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