ShiftPixy Inc (NASDAQ:PIXY) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,040,000 shares, an increase of 71.5% from the August 15th total of 606,400 shares. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 6.4% of the shares of the stock are short sold.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. raised its stake in shares of ShiftPixy by 256.6% during the second quarter. Advisor Group Holdings Inc. now owns 5,171 shares of the company’s stock worth $28,000 after buying an additional 3,721 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of ShiftPixy during the 2nd quarter valued at $135,000. Towerpoint Wealth LLC raised its position in shares of ShiftPixy by 377.6% during the 2nd quarter. Towerpoint Wealth LLC now owns 80,000 shares of the company’s stock valued at $80,000 after acquiring an additional 63,250 shares during the last quarter. Powell Investment Advisors LLC acquired a new position in shares of ShiftPixy in the 2nd quarter valued at $54,000. Finally, Invenomic Capital Management LP boosted its position in shares of ShiftPixy by 253.9% in the 1st quarter. Invenomic Capital Management LP now owns 24,448 shares of the company’s stock worth $131,000 after purchasing an additional 17,540 shares during the last quarter. 1.08% of the stock is currently owned by institutional investors.
Shares of PIXY opened at $4.00 on Tuesday. The business’s fifty day moving average price is $4.50 and its two-hundred day moving average price is $5.35. The firm has a market capitalization of $67.61 million, a price-to-earnings ratio of -0.25 and a beta of 1.07. ShiftPixy has a 52 week low of $3.21 and a 52 week high of $27.50.
ShiftPixy (NASDAQ:PIXY) last posted its quarterly earnings results on Wednesday, July 15th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.55) by $4.32. The firm had revenue of $2.01 million during the quarter.
Separately, Zacks Investment Research cut shares of ShiftPixy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 24th.
ShiftPixy, Inc provides employment services for businesses; and workers in shift or other part-time/temporary positions in the United States. The company also operates as a payroll processor, human resources consultant, and administrator of workers' compensation coverages and claims. It primarily serves restaurant, hospitality, and maintenance service industries.
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