StealthGas (NASDAQ:GASS) Raised to “Hold” at Zacks Investment Research

StealthGas (NASDAQ:GASS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “

StealthGas stock traded down $0.01 during midday trading on Tuesday, reaching $2.49. The company had a trading volume of 32,087 shares, compared to its average volume of 113,414. The company has a market capitalization of $94.27 million, a P/E ratio of 41.51 and a beta of 1.58. StealthGas has a 12-month low of $2.04 and a 12-month high of $3.32. The firm’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $2.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.76.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Tuesday, August 24th. The shipping company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.17. The firm had revenue of $33.30 million for the quarter, compared to analyst estimates of $31.77 million. StealthGas had a net margin of 1.61% and a return on equity of 1.71%. On average, analysts expect that StealthGas will post 0.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP lifted its stake in StealthGas by 45.1% in the 2nd quarter. Susquehanna International Group LLP now owns 39,573 shares of the shipping company’s stock worth $112,000 after purchasing an additional 12,303 shares in the last quarter. Group One Trading L.P. purchased a new stake in shares of StealthGas during the 2nd quarter valued at approximately $32,000. Virtu Financial LLC purchased a new stake in shares of StealthGas during the 1st quarter valued at approximately $48,000. Occudo Quantitative Strategies LP purchased a new stake in shares of StealthGas during the 1st quarter valued at approximately $30,000. Finally, Boston Partners raised its position in shares of StealthGas by 25.8% during the 1st quarter. Boston Partners now owns 352,746 shares of the shipping company’s stock valued at $1,002,000 after buying an additional 72,404 shares during the period. 50.00% of the stock is currently owned by institutional investors and hedge funds.

About StealthGas

StealthGas, Inc engages in the provision of international energy seaborne transportation services to liquefied petroleum gas sectors. Its owns fleet of vessels that carry petroleum and petrochemical gas products in liquefied form such as propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer.

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