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

Shares of StealthGas, Inc. (NASDAQ:GASS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.00 and traded as high as $10.01. StealthGas shares last traded at $9.90, with a volume of 56,804 shares.

StealthGas Stock Performance

The company’s 50 day moving average price is $9.38 and its 200-day moving average price is $8.00. The company has a market cap of $371.45 million, a PE ratio of 6.04 and a beta of 0.25.

StealthGas (NASDAQ:GASS) last released its quarterly earnings data on Monday, March 2nd. The shipping company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. StealthGas had a net margin of 35.03% and a return on equity of 9.08%. The business had revenue of $39.37 million during the quarter, compared to analyst estimates of $39.80 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. LOM Asset Management Ltd purchased a new position in StealthGas in the 4th quarter valued at approximately $35,000. Royal Bank of Canada boosted its holdings in StealthGas by 343.3% in the 4th quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 3,921 shares during the period. Bank of America Corp DE boosted its holdings in StealthGas by 701.2% in the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 8,982 shares during the period. Lazard Asset Management LLC bought a new position in StealthGas in the 4th quarter valued at $78,000. Finally, XTX Topco Ltd bought a new position in StealthGas in the 4th quarter valued at $79,000. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

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.