StealthGas (NASDAQ:GASS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

StealthGas, Inc. (NASDAQ:GASS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.57 and traded as high as $9.90. StealthGas shares last traded at $9.23, with a volume of 157,723 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of StealthGas from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, StealthGas currently has a consensus rating of “Buy”.

StealthGas Price Performance

The firm has a market cap of $346.31 million, a price-to-earnings ratio of 5.49 and a beta of 0.21. The business’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $8.57.

StealthGas (NASDAQ:GASS) last released its quarterly earnings results on Friday, June 5th. The shipping company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $42.84 million during the quarter, compared to the consensus estimate of $38.40 million. StealthGas had a net margin of 35.91% and a return on equity of 8.72%.

Institutional Investors Weigh In On StealthGas

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of StealthGas by 701.2% during the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 8,982 shares in the last quarter. Jump Financial LLC raised its stake in shares of StealthGas by 249.2% during the second quarter. Jump Financial LLC now owns 38,651 shares of the shipping company’s stock valued at $248,000 after purchasing an additional 27,583 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of StealthGas during the second quarter valued at about $91,000. GSA Capital Partners LLP raised its stake in shares of StealthGas by 129.9% during the third quarter. GSA Capital Partners LLP now owns 29,959 shares of the shipping company’s stock valued at $196,000 after purchasing an additional 16,928 shares in the last quarter. Finally, R Squared Ltd raised its stake in shares of StealthGas by 19.2% during the third quarter. R Squared Ltd now owns 19,648 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 3,168 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

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.