StealthGas (NASDAQ:GASS) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of StealthGas, Inc. (NASDAQ:GASS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.88 and traded as high as $9.07. StealthGas shares last traded at $8.83, with a volume of 80,059 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of StealthGas from a “hold” rating to a “buy” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas currently has a consensus rating of “Buy”.

StealthGas Stock Down 2.0%

The stock has a 50-day moving average of $8.96 and a 200 day moving average of $8.88. The company has a market capitalization of $331.30 million, a PE ratio of 5.26 and a beta of 0.25.

StealthGas (NASDAQ:GASS) last posted its quarterly earnings data on Friday, June 5th. The shipping company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. StealthGas had a return on equity of 8.72% and a net margin of 35.91%.The business had revenue of $42.84 million for the quarter, compared to analysts’ expectations of $38.40 million.

Hedge Funds Weigh In On StealthGas

Institutional investors have recently added to or reduced their stakes in the stock. Towerview LLC increased its holdings in StealthGas by 5.5% during the fourth quarter. Towerview LLC now owns 3,067,500 shares of the shipping company’s stock worth $21,534,000 after buying an additional 160,000 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in StealthGas in the fourth quarter valued at about $185,000. R Squared Ltd grew its position in shares of StealthGas by 78.7% during the 4th quarter. R Squared Ltd now owns 35,104 shares of the shipping company’s stock valued at $246,000 after acquiring an additional 15,456 shares during the period. Sowell Financial Services LLC raised its holdings in shares of StealthGas by 66.5% in the 4th quarter. Sowell Financial Services LLC now owns 33,125 shares of the shipping company’s stock worth $233,000 after purchasing an additional 13,225 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of StealthGas by 343.3% in the 4th quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock worth $36,000 after purchasing an additional 3,921 shares during the period. Institutional investors own 66.32% of the company’s stock.

StealthGas Company Profile

StealthGas Inc is an international shipping company specializing in the seaborne transportation of liquefied petroleum gases (LPG), including propane, butane and ammonia. The company operates a fleet of modern pressurized LPG carriers with capacities ranging from approximately 2,500 to 9,100 cubic meters, providing safe and efficient carriage of petrochemical gases worldwide.

Founded in 2005 and incorporated in the Republic of the Marshall Islands, StealthGas is headquartered in Athens, Greece, with additional commercial and operational offices in major shipping centers across Europe and Asia.