StealthGas (NASDAQ:GASS) Stock Price Up 1.8% – Still a Buy?

StealthGas, Inc. (NASDAQ:GASS)’s share price was up 1.8% during mid-day trading on Thursday. The company traded as high as $8.14 and last traded at $8.14. Approximately 109,048 shares traded hands during trading, a decline of 27% from the average session volume of 148,493 shares. The stock had previously closed at $8.00.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of StealthGas from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 21st. Wall Street Zen lowered shares of StealthGas from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Hold rating. According to MarketBeat, StealthGas presently has a consensus rating of “Hold”.

StealthGas Trading Up 1.8%

The firm has a market capitalization of $306.31 million, a price-to-earnings ratio of 5.12 and a beta of 0.32. The firm has a fifty day moving average price of $8.75 and a 200 day moving average price of $8.98.

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

Insider Activity at StealthGas

In other news, Director Michael Jolliffe sold 36,200 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $9.25, for a total transaction of $334,850.00. Following the sale, the director owned 54,500 shares in the company, valued at approximately $504,125. This represents a 39.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GASS. Oceanic Investment Management LTD bought a new position in shares of StealthGas in the third quarter valued at about $498,000. Militia Capital Management LLC bought a new stake in StealthGas during the 1st quarter worth about $422,000. Renaissance Technologies LLC grew its holdings in StealthGas by 0.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company’s stock worth $18,660,000 after acquiring an additional 17,100 shares during the last quarter. Tidal Investments LLC bought a new stake in StealthGas during the 2nd quarter worth about $130,000. Finally, Arrowstreet Capital Limited Partnership increased its position in StealthGas by 2.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company’s stock valued at $4,727,000 after acquiring an additional 12,142 shares in the last quarter. 66.32% of the stock is owned by institutional investors.

StealthGas Company Profile

StealthGas Inc. is an international shipping company focused primarily on owning and operating liquefied petroleum gas (LPG) carriers. Its vessels transport LPG, including propane and butane, for energy companies, commodity traders and other customers involved in the global gas supply chain. The company specializes in small- and medium-sized LPG carriers, which serve regional routes and ports that may not accommodate larger gas vessels. Its ships operate across international markets, carrying LPG between producers, distributors and end users.