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

StealthGas, Inc. (NASDAQ:GASS) shares passed 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 traded.

StealthGas Stock Performance

The firm has a 50-day moving average price of $9.38 and a 200-day moving average price of $8.00. The stock has a market cap of $371.42 million, a PE ratio of 6.04 and a beta of 0.25.

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

Hedge Funds Weigh In On StealthGas

Several large investors have recently modified their holdings of GASS. Bank of America Corp DE raised its position in shares of StealthGas by 701.2% in the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock worth $58,000 after purchasing an additional 8,982 shares during the last quarter. Jump Financial LLC raised its position in shares of StealthGas by 249.2% in the 2nd quarter. Jump Financial LLC now owns 38,651 shares of the shipping company’s stock worth $248,000 after purchasing an additional 27,583 shares during the last quarter. Jane Street Group LLC purchased a new position in StealthGas in the 2nd quarter worth about $91,000. Towerview LLC raised its position in StealthGas by 2.0% in the 3rd quarter. Towerview LLC now owns 2,907,500 shares of the shipping company’s stock worth $19,044,000 after buying an additional 57,571 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in StealthGas by 129.9% in the 3rd quarter. GSA Capital Partners LLP now owns 29,959 shares of the shipping company’s stock worth $196,000 after buying an additional 16,928 shares during the last quarter. Hedge funds and other institutional investors 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.