StealthGas, Inc. (GASS) Stock Rating Upgraded by Zacks Investment Research
StealthGas, Inc. (NASDAQ:GASS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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 (NASDAQ GASS) opened at 3.20 on Wednesday. The company’s market cap is $127.37 million. StealthGas has a one year low of $2.65 and a one year high of $4.78. The stock has a 50 day moving average of $3.12 and a 200-day moving average of $3.36.
StealthGas (NASDAQ:GASS) last released its earnings results on Thursday, August 24th. The shipping company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $39.27 million for the quarter, compared to the consensus estimate of $36.32 million. StealthGas had a negative net margin of 4.41% and a positive return on equity of 0.44%. On average, equities analysts predict that StealthGas will post $0.16 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of GASS. Russell Investments Group Ltd. grew its holdings in shares of StealthGas by 17.5% in the second quarter. Russell Investments Group Ltd. now owns 539,413 shares of the shipping company’s stock worth $1,754,000 after purchasing an additional 80,498 shares during the last quarter. Towerview LLC lifted its stake in StealthGas by 33.3% in the second quarter. Towerview LLC now owns 200,000 shares of the shipping company’s stock worth $650,000 after acquiring an additional 50,000 shares during the period. Renaissance Technologies LLC lifted its stake in StealthGas by 3.3% in the first quarter. Renaissance Technologies LLC now owns 1,504,619 shares of the shipping company’s stock worth $6,003,000 after acquiring an additional 48,319 shares during the period. Gagnon Securities LLC lifted its stake in StealthGas by 49.6% in the first quarter. Gagnon Securities LLC now owns 141,685 shares of the shipping company’s stock worth $565,000 after acquiring an additional 46,979 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in StealthGas by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after acquiring an additional 42,867 shares during the period. Hedge funds and other institutional investors own 67.87% 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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