StealthGas Inc. (NASDAQ:GASS) Short Interest Up 78.4% in May

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StealthGas Inc. (NASDAQ:GASS) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 71,900 shares, an increase of 78.4% from the April 30th total of 40,300 shares. Based on an average trading volume of 48,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.2% of the shares of the stock are sold short.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in StealthGas by 71.5% during the fourth quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock valued at $81,000 after purchasing an additional 12,321 shares in the last quarter. Millennium Management LLC purchased a new stake in StealthGas during the fourth quarter valued at $41,000. Towerview LLC raised its stake in StealthGas by 10.8% during the first quarter. Towerview LLC now owns 537,475 shares of the shipping company’s stock valued at $1,881,000 after purchasing an additional 52,475 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in StealthGas during the fourth quarter valued at $592,000. 59.01% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GASS traded up $0.02 during midday trading on Wednesday, reaching $3.43. 100 shares of the company were exchanged, compared to its average volume of 34,604. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.02 and a current ratio of 1.06. StealthGas has a one year low of $2.73 and a one year high of $4.18. The firm has a market cap of $136.84 million, a price-to-earnings ratio of 30.55 and a beta of 1.45.

StealthGas (NASDAQ:GASS) last issued its earnings results on Thursday, May 23rd. The shipping company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. The firm had revenue of $34.64 million during the quarter, compared to analyst estimates of $33.82 million. StealthGas had a negative net margin of 2.78% and a positive return on equity of 0.71%. As a group, research analysts predict that StealthGas will post 0.24 earnings per share for the current year.

A number of brokerages recently weighed in on GASS. Zacks Investment Research upgraded shares of StealthGas from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Monday, April 29th. Maxim Group restated a “buy” rating and set a $5.50 target price on shares of StealthGas in a research report on Wednesday, March 27th.

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StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

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