ShiftPixy Inc. [PIXY] fell -80.10% so far this year. What now?

ShiftPixy Inc. [NASDAQ: PIXY] gained 5.05% or 0.01 points to close at $0.23 with a heavy trading volume of 3743644 shares. 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.”.

It opened the trading session at $0.2258, the shares rose to $0.245 and dropped to $0.212, the range by which the price of stock traded the whole day. The daily chart for PIXY points out that the company has recorded -72.61% loss over the past six months. However, it is still -35.29% lower than its most recent low trading price.

If we look at the average trading volume of 2.33M shares, PIXY reached to a volume of 3743644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ShiftPixy Inc. [PIXY]:

The Average True Range (ATR) for ShiftPixy Inc. is set at 0.03, with the Price to Sales ratio for PIXY stock in the period of the last 12 months amounting to 0.31. 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 0.00.

Trading performance analysis for PIXY stock

ShiftPixy Inc. [PIXY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.44. With this latest performance, PIXY shares gained by 16.40% in over the last four-week period, additionally sinking by -72.61% over the last 6 months – not to mention a drop of -84.38% 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 51.58, with the RSI for the last a single of trading hit 56.75, and the three-weeks RSI is set at 48.19 for ShiftPixy Inc. [PIXY]. The present Moving Average for the last 50 days of trading for this stock 0.2523, while it was recorded at 0.2179 for the last single week of trading, and 0.6487 for the last 200 days.

ShiftPixy Inc. [PIXY]: A deeper dive into fundamental analysis

ShiftPixy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

An analysis of insider ownership at ShiftPixy Inc. [PIXY]

There are presently around $0 million, or 3.30% of PIXY stock, in the hands of institutional investors. The top three institutional holders of PIXY stocks are: VANGUARD GROUP INC with ownership of 841,558, which is approximately 0% of the company’s market cap and around 40.50% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 205,723 shares of the stock with an approximate value of $48000.0 in PIXY stocks shares; and VIRTU FINANCIAL LLC, currently with $31000.0 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 10 institutional holders increased their position in ShiftPixy Inc. [NASDAQ:PIXY] by around 221,605 shares. Additionally, 11 investors decreased positions by around 2,988,065 shares, while 5 investors held positions by with 1,507,722 shares. The mentioned changes placed institutional holdings at 1,701,948 shares, according to the latest SEC report filing. PIXY stock had 4 new institutional investments in for a total of 164,383 shares, while 5 institutional investors sold positions of 2,886,956 shares during the same period.


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