ShiftPixy Inc. [PIXY] Is Currently 53.38 above its 200 Period Moving Avg: What Does This Mean?


ShiftPixy Inc. [NASDAQ: PIXY] jumped around 0.12 points on Tuesday, while shares priced at $0.35 at the close of the session, up 53.38%. The company report on May 24, 2022 that ShiftPixy, Inc. Announces Management Changes.

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ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or the “Company”), 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 that its Board of Directors (the “Board”) has approved an agreement pursuant to which it will grant a leave of absence requested by its Treasurer and Chief Financial Officer, Domonic J. Carney, effective May 24, 2022. As part of this agreement, Mr. Carney has resigned the posts of Treasurer and Chief Financial Officer of the Company and its subsidiaries, effective immediately. In Mr. Carney’s absence, the Company has promoted its Vice President of Accounting, Manuel Rivera, to the position of Treasurer and Acting Chief Financial Officer, also effective immediately. The Company further announced that Mr. Carney has resigned from his positions as Treasurer and Chief Financial Officer of Industrial Human Capital, Inc. (NYSE: AXH), the special purpose acquisition company, or “SPAC”, sponsored by the Company, as part of AXH’s transition from a SPAC to an operating company. The Board of Directors of AXH has accepted Mr. Carney’s resignation and appointed in his place ShiftPixy’s Director of Finance, Gabriel Rodriguez, to serve as AXH’s Treasurer and Chief Financial Officer, effective immediately. Mr. Rodriguez will continue to serve as Director of Finance for ShiftPixy until a replacement is found.

Commenting on these management changes, Scott W. Absher, Chairman and Chief Executive Officer of ShiftPixy, stated: “Domonic Carney has played an indispensable role in the Company’s transformation since his arrival in 2019. Under his financial stewardship, the Company eliminated all of its outstanding debt and raised over $50 million from equity investors. In the process, he succeeded in building an impressive internal financial organization with a deep bench. Domonic has certainly earned a break, and we are hopeful that he will return to ShiftPixy in the future.”.

ShiftPixy Inc. stock is now -70.14% down from its year-to-date (YTD) trading value. PIXY Stock saw the intraday high of $0.49 and lowest of $0.2301 per share. The company’s 52-week high price is 2.94, which means current price is +103.02% above from all time high which was touched on 01/25/22.

Compared to the average trading volume of 5.66M shares, PIXY reached a trading volume of 34221891 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ShiftPixy Inc. [PIXY]?

The Average True Range (ATR) for ShiftPixy Inc. is set at 0.08, with the Price to Sales ratio for PIXY stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 0.11, with the Price to Cash per share for the same quarter was set at 0.09.

How has PIXY stock performed recently?

ShiftPixy Inc. [PIXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.65. With this latest performance, PIXY shares dropped by -31.49% in over the last four-week period, additionally sinking by -53.10% over the last 6 months – not to mention a drop of -87.43% 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 51.21, with the RSI for the last a single of trading hit 56.53, and the three-weeks RSI is set at 47.82 for ShiftPixy Inc. [PIXY]. The present Moving Average for the last 50 days of trading for this stock 0.3909, while it was recorded at 0.2802 for the last single week of trading, and 0.8794 for the last 200 days.

ShiftPixy Inc. [PIXY]: Deeper insight into the 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.

Insider trade positions for ShiftPixy Inc. [PIXY]

There are presently around $1 million, or 13.30% 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 38.09% of the total institutional ownership; VANGUARD GROUP INC, holding 841,558 shares of the stock with an approximate value of $0.19 million in PIXY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $47000.0 in PIXY stock with ownership of nearly -5.757% 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 8 institutional holders increased their position in ShiftPixy Inc. [NASDAQ:PIXY] by around 648,298 shares. Additionally, 15 investors decreased positions by around 387,703 shares, while 4 investors held positions by with 3,431,330 shares. The mentioned changes placed institutional holdings at 4,467,331 shares, according to the latest SEC report filing. PIXY stock had 4 new institutional investments in for a total of 53,824 shares, while 5 institutional investors sold positions of 127,952 shares during the same period.