StealthGas (NASDAQ:GASS) Upgraded to “Buy” at Wall Street Zen

StealthGas (NASDAQ:GASS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

StealthGas Stock Performance

GASS stock opened at $9.23 on Tuesday. The company has a market capitalization of $346.31 million, a price-to-earnings ratio of 5.49 and a beta of 0.21. StealthGas has a fifty-two week low of $6.12 and a fifty-two week high of $10.55. The stock has a fifty day moving average of $9.62 and a 200-day moving average of $8.57.

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

Institutional Trading of StealthGas

A number of institutional investors have recently modified their holdings of GASS. LOM Asset Management Ltd bought a new position in StealthGas in the 4th quarter worth approximately $35,000. Royal Bank of Canada lifted its position in shares of StealthGas by 343.3% during the fourth quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock worth $36,000 after acquiring an additional 3,921 shares in the last quarter. Bank of America Corp DE lifted its position 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 worth $58,000 after acquiring an additional 8,982 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of StealthGas in the fourth quarter worth $78,000. Finally, XTX Topco Ltd bought a new position in shares of StealthGas in the fourth quarter worth $79,000. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

About StealthGas

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.