ShiftPixy (PIXY) Shares Down 6.4%

ShiftPixy Inc (NASDAQ:PIXY) was down 6.4% during mid-day trading on Friday . The company traded as low as $1.52 and last traded at $1.60. Approximately 2,023,336 shares traded hands during trading, an increase of 142% from the average daily volume of 837,651 shares. The stock had previously closed at $1.71.

The company has a market cap of $48.54 million, a price-to-earnings ratio of -2.76 and a beta of 2.00.

ShiftPixy (NASDAQ:PIXY) last posted its quarterly earnings data 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 47.41% and a negative return on equity of 874.51%. On average, analysts anticipate that ShiftPixy Inc will post -0.24 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc increased its stake in shares of ShiftPixy by 26.0% during the 3rd quarter. Vanguard Group Inc now owns 46,515 shares of the company’s stock worth $180,000 after purchasing an additional 9,598 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of ShiftPixy during the third quarter valued at about $110,000. Granite Investment Partners LLC acquired a new position in shares of ShiftPixy during the third quarter valued at about $1,385,000. Finally, BlackRock Inc. acquired a new position in shares of ShiftPixy during the second quarter valued at about $114,000. Hedge funds and other institutional investors own 1.88% of the company’s stock.

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About ShiftPixy (NASDAQ:PIXY)

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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