StealthGas, Inc. (GASS) Lifted to Hold at Zacks Investment Research
StealthGas, Inc. (NASDAQ:GASS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Shares of StealthGas (NASDAQ:GASS) traded down $0.13 during mid-day trading on Tuesday, reaching $3.45. The company had a trading volume of 141,200 shares, compared to its average volume of 56,254. The firm has a market cap of $140.31, a PE ratio of 51.14 and a beta of 1.77. StealthGas has a 1 year low of $2.90 and a 1 year high of $4.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.60 and a quick ratio of 0.57.
StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Thursday, August 24th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $39.27 million for the quarter, compared to analysts’ expectations of $36.32 million. StealthGas had a positive return on equity of 0.44% and a negative net margin of 4.41%. equities research analysts predict that StealthGas will post 0.15 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of GASS. Boston Partners increased its position in StealthGas by 45.8% in the 3rd quarter. Boston Partners now owns 1,993,080 shares of the shipping company’s stock valued at $6,597,000 after acquiring an additional 625,795 shares during the period. Russell Investments Group Ltd. increased its position in StealthGas by 79.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 969,813 shares of the shipping company’s stock valued at $3,210,000 after acquiring an additional 430,400 shares during the period. Macquarie Group Ltd. acquired a new position in StealthGas in the 3rd quarter valued at about $352,000. JPMorgan Chase & Co. acquired a new position in StealthGas in the 3rd quarter valued at about $280,000. Finally, Towerview LLC increased its position in StealthGas by 33.3% in the 2nd quarter. Towerview LLC now owns 200,000 shares of the shipping company’s stock valued at $650,000 after acquiring an additional 50,000 shares during the period. Hedge funds and other institutional investors own 64.32% of the company’s stock.
StealthGas Company Profile
StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
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