Zacks Investment Research Downgrades StealthGas, Inc. (NASDAQ:GASS) to Hold
Zacks Investment Research cut shares of StealthGas, Inc. (NASDAQ:GASS) from a strong-buy rating to a hold rating in a research note issued to investors 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) remained flat at $2.99 during mid-day trading on Tuesday. 42,557 shares of the company’s stock were exchanged. StealthGas has a 1-year low of $2.65 and a 1-year high of $4.78. The company’s market capitalization is $119.01 million. The stock’s 50-day moving average price is $3.17 and its 200-day moving average price is $3.59.
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 company had revenue of $38.06 million for the quarter, compared to the consensus estimate of $33.30 million. StealthGas had a negative return on equity of 0.09% and a negative net margin of 4.41%. On average, analysts anticipate that StealthGas will post $0.16 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of GASS. Gagnon Securities LLC boosted its position in 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 period. Renaissance Technologies LLC boosted its position in StealthGas by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,456,300 shares of the shipping company’s stock worth $4,922,000 after buying an additional 21,100 shares during the period. Royce & Associates LP boosted its position in StealthGas by 1.4% in the first quarter. Royce & Associates LP now owns 1,875,056 shares of the shipping company’s stock worth $7,481,000 after buying an additional 25,000 shares during the period. Goldman Sachs Group Inc. purchased a new position in StealthGas during the first quarter worth about $114,000. Finally, Russell Investments Group Ltd. boosted its position in 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 period. Institutional investors own 62.66% 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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