StealthGas Inc. (GASS) Sees Significant Decline in Short Interest
StealthGas Inc. (NASDAQ:GASS) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 31,539 shares, a decrease of 38.1% from the April 28th total of 50,965 shares. Based on an average daily volume of 43,914 shares, the short-interest ratio is presently 0.7 days.
Shares of StealthGas (NASDAQ:GASS) opened at 3.29 on Thursday. The firm’s market capitalization is $130.95 million. StealthGas has a one year low of $2.65 and a one year high of $4.78. The firm’s 50 day moving average is $3.33 and its 200-day moving average is $3.70.
StealthGas (NASDAQ:GASS) last issued its quarterly earnings data on Thursday, May 25th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.07. The company had revenue of $38.06 million during the quarter, compared to analysts’ expectations of $33.30 million. StealthGas had a negative return on equity of 0.43% and a negative net margin of 4.49%. On average, equities research analysts predict that StealthGas will post $0.18 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of StealthGas from a “hold” rating to a “strong-buy” rating and set a $4.00 target price on the stock in a report on Tuesday.
Several hedge funds and other institutional investors have recently modified their holdings of GASS. Russell Investments Group Ltd. bought a new position in shares of StealthGas during the fourth quarter worth about $1,484,000. State Street Corp boosted its position in StealthGas by 13.2% in the fourth quarter. State Street Corp now owns 36,524 shares of the shipping company’s stock worth $123,000 after buying an additional 4,258 shares in the last quarter. Royce & Associates LP boosted its position in StealthGas by 7.6% in the fourth quarter. Royce & Associates LP now owns 1,850,056 shares of the shipping company’s stock worth $6,253,000 after buying an additional 130,489 shares in the last quarter. 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 in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in StealthGas by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after buying an additional 42,867 shares in the last quarter. 62.99% of the stock is owned by institutional investors.
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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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