StealthGas (NASDAQ:GASS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

StealthGas, Inc. (NASDAQ:GASS)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.09 and traded as high as $9.76. StealthGas shares last traded at $9.36, with a volume of 67,871 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered StealthGas from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

StealthGas Trading Up 2.9%

The business’s 50-day simple moving average is $8.76 and its two-hundred day simple moving average is $9.10. The company has a market capitalization of $355.69 million, a PE ratio of 5.64 and a beta of 0.25.

StealthGas (NASDAQ:GASS) last announced its earnings results on Friday, June 5th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $38.40 million.

Institutional Investors Weigh In On StealthGas

A number of institutional investors have recently modified their holdings of GASS. Militia Capital Management LLC bought a new position in shares of StealthGas during the first quarter worth about $422,000. NewEdge Advisors LLC lifted its holdings in StealthGas by 5.0% during the 1st quarter. NewEdge Advisors LLC now owns 50,094 shares of the shipping company’s stock worth $460,000 after buying an additional 2,388 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of StealthGas by 0.8% in 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 during the last quarter. Finally, R Squared Ltd increased its holdings in shares of StealthGas by 8.7% in the 1st quarter. R Squared Ltd now owns 38,175 shares of the shipping company’s stock valued at $350,000 after acquiring an additional 3,071 shares during the last quarter. Institutional investors and hedge funds 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.