StealthGas, Inc. (NASDAQ:GASS) Upgraded to “Hold” by Zacks Investment Research
StealthGas, Inc. (NASDAQ:GASS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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) traded down 1.00% on Wednesday, reaching $2.97. 75,764 shares of the company’s stock traded hands. The firm’s 50-day moving average is $3.15 and its 200 day moving average is $3.58. The firm’s market cap is $118.21 million. StealthGas has a 12 month low of $2.65 and a 12 month high of $4.78.
StealthGas (NASDAQ:GASS) last released its quarterly earnings data on Thursday, May 25th. The shipping company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $38.06 million during the quarter, compared to analyst estimates of $33.30 million. StealthGas had a negative return on equity of 0.09% and a negative net margin of 4.41%. Equities analysts predict that StealthGas will post $0.16 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in GASS. Gagnon Securities LLC raised its stake in shares of StealthGas by 9.8% in the second quarter. Gagnon Securities LLC now owns 155,524 shares of the shipping company’s stock worth $505,000 after buying an additional 13,839 shares during the last quarter. Royce & Associates LP raised its stake in shares of StealthGas by 1.2% in the second quarter. Royce & Associates LP now owns 1,897,956 shares of the shipping company’s stock worth $6,168,000 after buying an additional 22,900 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of StealthGas during the first quarter worth approximately $114,000. Russell Investments Group Ltd. raised its stake in shares of StealthGas by 8.2% in the first quarter. Russell Investments Group Ltd. now owns 458,915 shares of the shipping company’s stock worth $1,831,000 after buying an additional 34,900 shares during the last quarter. Finally, Robotti Robert raised its stake in shares of StealthGas by 4.9% in the second quarter. Robotti Robert now owns 857,344 shares of the shipping company’s stock worth $2,623,000 after buying an additional 39,659 shares during the last quarter. 63.04% of the stock is owned by institutional investors.
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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