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PYXIS TANKERS Equity Research Report

Pyxis Tankers announced its financial results for the 3Q 2021 and nine months for the year. Overall, results were well below our expectations due to the unfavorable conditions in the product tankers’ market.

On November 15, 2021, Pyxis signed a MOA to acquire the “Pyxis Lamda”, a 2017-built 50,296 dwt. eco-efficient MR for $32 million.

We have performed a Peer Multiple Valuation of Pyxis Tankers with EV/GAV and P/NAV in order to arrive at our target price.

Pyxis Tankers, Inc. is an international maritime transportation holding company, which engages in the ownership and operation of a fleet of product tankers. It involves the seaborne transportation and shipping of refined petroleum products and other bulk liquids.

Underlying
PYXIS TANKERS

Provider
VRS (VALUATION & RESEARCH SPECIALISTS)
VRS (VALUATION & RESEARCH SPECIALISTS)

 

 

Founded in 2002, VRS (VALUATION & RESEARCH SPECIALISTS) - VRS INTERNATIONAL S.A. is an independent Financial Research & Consulting Firm with offices in Luxembourg, Toronto and Athens, and with senior presence in the broader European and North American markets, providing advanced equity research and valuation reports as well as value-related advisory services and credit rating services to local and international institutions, business entities and individual clients.

VRS is a boutique financial advisor with more than 20 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Europe and North America.

Since 2002, VRS has completed more than 500 engagements in the areas of business valuation and financial analysis for more than 200 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

VRS provides corporations with services in financial restructuring, valuation of business enterprises, intangible assets and tangible fixed assets, value enhancement and strategic expansion.

VRS also assists companies involved in mergers and acquisitions and tracks the market in order to offer advice on when to make public offerings and private placements.

VRS cooperates with fund managers, asset managers, business owners, international organizations, banks and strategic or institutional investors.

VRS has worked with over 200 companies in Europe and North America in financing, private placements, initial public offerings, business acquisitions and mergers.

Analysts
VRS RESEARCH TEAM

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