StealthGas (NASDAQ:GASS) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of StealthGas, Inc. (NASDAQ:GASS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.68 and traded as high as $6.95. StealthGas shares last traded at $6.89, with a volume of 134,296 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on GASS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of StealthGas in a report on Wednesday, October 8th. Wall Street Zen upgraded StealthGas from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

StealthGas Price Performance

The company has a market cap of $256.03 million, a price-to-earnings ratio of 4.10 and a beta of 0.22. The stock has a 50-day moving average price of $6.63 and a 200 day moving average price of $6.68.

StealthGas (NASDAQ:GASS) last posted its earnings results on Tuesday, November 25th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $44.53 million during the quarter, compared to analysts’ expectations of $39.20 million. StealthGas had a return on equity of 9.62% and a net margin of 35.02%.During the same period in the prior year, the business earned $0.33 EPS.

Institutional Investors Weigh In On StealthGas

A number of hedge funds and other institutional investors have recently made changes to their positions in GASS. Towerview LLC raised its holdings in StealthGas by 2.0% during the third quarter. Towerview LLC now owns 2,907,500 shares of the shipping company’s stock worth $19,044,000 after acquiring an additional 57,571 shares in the last quarter. Acadian Asset Management LLC grew its stake in StealthGas by 1.7% in the second quarter. Acadian Asset Management LLC now owns 1,091,498 shares of the shipping company’s stock valued at $6,975,000 after purchasing an additional 17,750 shares in the last quarter. UBS Group AG increased its position in shares of StealthGas by 21.4% during the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company’s stock worth $1,704,000 after purchasing an additional 45,846 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of StealthGas by 31.3% during the 3rd quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company’s stock worth $1,554,000 after purchasing an additional 56,493 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of StealthGas by 24.5% during the 3rd quarter. Millennium Management LLC now owns 208,190 shares of the shipping company’s stock worth $1,364,000 after purchasing an additional 40,912 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors and hedge funds.

StealthGas Company Profile

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