ShiftPixy Inc (PIXY) Sees Significant Decrease in Short Interest

ShiftPixy Inc (NASDAQ:PIXY) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 645,730 shares, a drop of 30.2% from the January 15th total of 924,742 shares. Based on an average daily trading volume, of 325,611 shares, the days-to-cover ratio is presently 2.0 days. Approximately 11.3% of the company’s shares are sold short.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of ShiftPixy by 26.0% during the third quarter. Vanguard Group Inc now owns 46,515 shares of the company’s stock worth $180,000 after purchasing an additional 9,598 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ShiftPixy during the third quarter worth about $110,000. BlackRock Inc. acquired a new stake in shares of ShiftPixy during the second quarter worth about $114,000. Finally, Granite Investment Partners LLC acquired a new stake in shares of ShiftPixy during the third quarter worth about $1,385,000. 1.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of PIXY stock opened at $1.63 on Thursday. The stock has a market cap of $40.75 million, a price-to-earnings ratio of -2.81 and a beta of 1.15. ShiftPixy has a 1-year low of $1.14 and a 1-year high of $6.35.

ShiftPixy (NASDAQ:PIXY) last announced its earnings results on Friday, January 11th. The company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.11. The company had revenue of $10.52 million during the quarter, compared to analyst estimates of $12.38 million. ShiftPixy had a negative net margin of 39.10% and a negative return on equity of 874.51%. As a group, equities analysts forecast that ShiftPixy will post -0.12 EPS for the current year.

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About ShiftPixy

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.

Further Reading: How to interpret a stock’s beta number

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