StealthGas (NASDAQ:GASS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

StealthGas, Inc. (NASDAQ:GASS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.02 and traded as high as $9.62. StealthGas shares last traded at $9.60, with a volume of 234,811 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered StealthGas from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, StealthGas presently has a consensus rating of “Buy”.

StealthGas Stock Performance

The business’s 50 day moving average price is $8.71 and its 200-day moving average price is $9.03. The firm has a market capitalization of $364.69 million, a PE ratio of 5.76 and a beta of 0.25.

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

Institutional Investors Weigh In On StealthGas

Several large investors have recently added to or reduced their stakes in the business. Towerview LLC grew its stake in shares of StealthGas by 5.5% in the fourth quarter. Towerview LLC now owns 3,067,500 shares of the shipping company’s stock worth $21,534,000 after acquiring an additional 160,000 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of StealthGas during the fourth quarter worth $185,000. R Squared Ltd raised its stake in shares of StealthGas by 78.7% in the fourth quarter. R Squared Ltd now owns 35,104 shares of the shipping company’s stock valued at $246,000 after acquiring an additional 15,456 shares in the last quarter. NewEdge Advisors LLC raised its stake 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 valued at $460,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of StealthGas by 0.8% in the first quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company’s stock valued at $18,660,000 after acquiring an additional 17,100 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

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.