StealthGas (NASDAQ:GASS) Stock Passes 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 Wednesday . The stock has a 200-day moving average of $9.20 and traded as high as $9.41. StealthGas shares last traded at $9.33, with a volume of 88,721 shares trading hands.

Analyst Upgrades and Downgrades

GASS has been the subject of several recent research reports. Wall Street Zen lowered shares of StealthGas from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of StealthGas from a “buy (b)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

StealthGas Stock Performance

The firm has a 50 day simple moving average of $9.02 and a two-hundred day simple moving average of $9.20. The stock has a market cap of $354.47 million, a P/E ratio of 5.92 and a beta of 0.25.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings results on Wednesday, September 2nd. The shipping company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $42.91 million for the quarter, compared to analyst estimates of $44.90 million. StealthGas had a return on equity of 7.87% and a net margin of 34.97%.

Hedge Funds Weigh In On StealthGas

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in shares of StealthGas by 701.2% during the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock worth $58,000 after buying an additional 8,982 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of StealthGas by 249.2% in the second quarter. Jump Financial LLC now owns 38,651 shares of the shipping company’s stock valued at $248,000 after acquiring an additional 27,583 shares in the last quarter. Jane Street Group LLC bought a new position in shares of StealthGas in the second quarter valued at approximately $91,000. WINTON GROUP Ltd acquired a new position in shares of StealthGas during the third quarter valued at approximately $276,000. Finally, UBS Group AG increased its stake in shares of StealthGas by 21.4% during the third quarter. UBS Group AG now owns 260,133 shares of the shipping company’s stock valued at $1,704,000 after acquiring an additional 45,846 shares during the period. Institutional investors own 66.32% of the company’s stock.

About StealthGas

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.