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Is Now A Good Time To Invest In ShiftPixy Inc. (NASDAQ: PIXY)?

ShiftPixy Inc. (NASDAQ:PIXY) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 3.34% to the previous day’s close as strong demand from buyers drove the stock to $0.21.

Actively observing the price movement in the last trading, the stock closed the session at $0.20, falling within a range of $0.20 and $0.2185. The value of beta (5-year monthly) was 1.62. Referring to stock’s 52-week performance, its high was $2.07, and the low was $0.17. On the whole, PIXY has fluctuated by -24.39% over the past month.

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With the market capitalization of ShiftPixy Inc. currently standing at about $7.71 million, investors are eagerly awaiting this quarter’s results, scheduled for Jan 14, 2021.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PIXY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PIXY currently trading nearly -14.33% and -27.26% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.79, while the 7-day volatility ratio is showing 7.97% which for the 30-day chart, stands at 9.46%. Furthermore, ShiftPixy Inc. (PIXY)’s beta value is 1.47, and its average true range (ATR) is 0.02.

Data on historical trading for ShiftPixy Inc. (NASDAQ:PIXY) indicates that the trading volumes over the past 10 days have averaged 1.07 million and over the past 3 months, they’ve averaged 6.05 million. According to company’s latest data on outstanding shares, there are 38.37 million shares outstanding.

Nearly 54.30% of ShiftPixy Inc.’s shares belong to company insiders and institutional investors own 11.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.27 million shares as on Jul 14, 2022, resulting in a short ratio of 0.27. According to the data, the short interest in ShiftPixy Inc. (PIXY) stood at 0.71% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 0.9 million. The stock has fallen by -82.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PIXY stock heading into the next quarter.

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