StealthGas, Inc. (NASDAQ:GASS) Short Interest Down 48.6% in July

StealthGas, Inc. (NASDAQ:GASS) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 53,573 shares, a decrease of 48.6% from the June 30th total of 104,253 shares. Based on an average daily trading volume, of 119,498 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the company’s shares are sold short.

Hedge Funds Weigh In On StealthGas

Several hedge funds have recently modified their holdings of GASS. Militia Capital Management LLC acquired a new stake in StealthGas in the 1st quarter worth approximately $422,000. NewEdge Advisors LLC raised its holdings in shares of StealthGas by 5.0% in the first quarter. NewEdge Advisors LLC now owns 50,094 shares of the shipping company’s stock worth $460,000 after buying an additional 2,388 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of StealthGas by 0.8% during the first quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company’s stock worth $18,660,000 after buying an additional 17,100 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of StealthGas by 2.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company’s stock valued at $4,727,000 after buying an additional 12,142 shares during the last quarter. Finally, R Squared Ltd raised its stake in StealthGas by 8.7% in the 1st quarter. R Squared Ltd now owns 38,175 shares of the shipping company’s stock worth $350,000 after acquiring an additional 3,071 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

StealthGas Stock Performance

GASS stock traded down $0.08 during trading on Wednesday, reaching $8.78. 36,766 shares of the company traded hands, compared to its average volume of 145,388. StealthGas has a 12 month low of $6.12 and a 12 month high of $10.55. The company has a market capitalization of $329.43 million, a price-to-earnings ratio of 5.23 and a beta of 0.25. The business has a 50 day simple moving average of $8.92 and a 200 day simple moving average of $8.91.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings data on Friday, June 5th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. StealthGas had a net margin of 35.91% and a return on equity of 8.72%. The firm had revenue of $42.84 million for the quarter, compared to the consensus estimate of $38.40 million.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, StealthGas currently has an average rating of “Buy”.

StealthGas Company Profile

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.