StealthGas (NASDAQ:GASS) Lowered to Hold Rating by Wall Street Zen

StealthGas (NASDAQ:GASS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

StealthGas Stock Down 2.9%

Shares of NASDAQ:GASS opened at $9.92 on Friday. The company has a market cap of $372.20 million, a price-to-earnings ratio of 6.05 and a beta of 0.25. The firm’s 50-day simple moving average is $9.54 and its 200-day simple moving average is $8.26. StealthGas has a fifty-two week low of $5.22 and a fifty-two week high of $10.55.

StealthGas (NASDAQ:GASS) last issued its earnings results on Monday, March 2nd. The shipping company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $39.37 million for the quarter, compared to the consensus estimate of $39.80 million. StealthGas had a net margin of 35.03% and a return on equity of 9.08%.

Institutional Trading of StealthGas

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings 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. Arrowstreet Capital Limited Partnership boosted its holdings in StealthGas by 2.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company’s stock worth $4,727,000 after buying an additional 12,142 shares in the last quarter. Militia Capital Management LLC purchased a new stake in StealthGas during the first quarter worth about $422,000. R Squared Ltd boosted its holdings in StealthGas by 8.7% during the first quarter. R Squared Ltd now owns 38,175 shares of the shipping company’s stock worth $350,000 after buying an additional 3,071 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in StealthGas by 1.3% during the first quarter. Janney Montgomery Scott LLC now owns 155,140 shares of the shipping company’s stock worth $1,424,000 after buying an additional 1,929 shares in the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.

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.