StealthGas (NASDAQ:GASS) Shares Cross Above 200 Day Moving Average – Here’s What Happened

StealthGas, Inc. (NASDAQ:GASS) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.33 and traded as high as $6.51. StealthGas shares last traded at $6.36, with a volume of 114,863 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of StealthGas from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Weiss Ratings restated a “buy (b-)” rating on shares of StealthGas in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

StealthGas Stock Performance

The company has a current ratio of 3.87, a quick ratio of 3.73 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $6.98 and its two-hundred day moving average price is $6.33. The company has a market cap of $236.34 million, a P/E ratio of 3.85 and a beta of 0.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GASS. Towerview LLC boosted its holdings in shares of StealthGas by 2.9% in the second quarter. Towerview LLC now owns 2,849,929 shares of the shipping company’s stock worth $18,268,000 after buying an additional 79,929 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of StealthGas by 136.0% in the first quarter. Cubist Systematic Strategies LLC now owns 72,009 shares of the shipping company’s stock worth $407,000 after buying an additional 41,497 shares during the period. Quadrature Capital Ltd acquired a new position in shares of StealthGas in the second quarter worth about $209,000. Jump Financial LLC boosted its holdings in shares of StealthGas by 249.2% in the second quarter. Jump Financial LLC now owns 38,651 shares of the shipping company’s stock worth $248,000 after buying an additional 27,583 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of StealthGas by 1.7% in the second quarter. Acadian Asset Management LLC now owns 1,091,498 shares of the shipping company’s stock worth $6,975,000 after buying an additional 17,750 shares during the period. 66.32% of the stock is currently owned by institutional investors and hedge funds.

About StealthGas

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.