StealthGas, Inc. (NASDAQ:GASS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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. “

StealthGas (GASS) traded up 3.44% on Friday, reaching $3.31. The company’s stock had a trading volume of 99,733 shares. StealthGas has a one year low of $2.65 and a one year high of $4.78. The company’s market capitalization is $131.74 million. The firm has a 50-day moving average of $3.09 and a 200-day moving average of $3.49.

StealthGas (NASDAQ:GASS) last released its earnings results on Thursday, August 24th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. The company had revenue of $39.27 million for the quarter, compared to analyst estimates of $36.32 million. StealthGas had a negative net margin of 4.41% and a negative return on equity of 0.09%. Analysts predict that StealthGas will post $0.16 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in GASS. State Street Corp raised its stake in StealthGas by 16.9% in the second quarter. State Street Corp now owns 41,521 shares of the shipping company’s stock worth $135,000 after buying an additional 5,998 shares during the period. Gagnon Securities LLC raised its stake 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. Goldman Sachs Group Inc. raised its stake in StealthGas by 65.0% in the second quarter. Goldman Sachs Group Inc. now owns 46,953 shares of the shipping company’s stock worth $153,000 after buying an additional 18,495 shares during the period. Royce & Associates LP raised its stake in StealthGas by 1.2% in the second quarter. Royce & Associates LP now owns 1,897,956 shares of the shipping company’s stock worth $6,168,000 after buying an additional 22,900 shares during the period. Finally, Russell Investments Group Ltd. raised its stake 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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