StealthGas (NASDAQ:GASS) Stock Price Passes Above 200 Day Moving Average – What’s Next?

StealthGas, Inc. (NASDAQ:GASS) shares 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 traded.

Wall Street Analysts Forecast Growth

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

StealthGas Stock Performance

The stock has a market cap of $256.03 million, a price-to-earnings ratio of 4.10 and a beta of 0.22. The firm’s 50-day simple moving average is $6.63 and its two-hundred day simple moving average is $6.68.

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

Institutional Investors Weigh In On StealthGas

A number of institutional investors and hedge funds have recently made changes to their positions in GASS. NewEdge Advisors LLC acquired a new position in shares of StealthGas during the third quarter valued at $226,000. Qube Research & Technologies Ltd raised its holdings in StealthGas by 15.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 122,155 shares of the shipping company’s stock worth $800,000 after purchasing an additional 16,129 shares during the last quarter. Millennium Management LLC raised its holdings in 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 during the last quarter. Citadel Advisors LLC lifted its position in StealthGas by 48.4% during the 3rd quarter. Citadel Advisors LLC now owns 115,206 shares of the shipping company’s stock valued at $755,000 after purchasing an additional 37,550 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of StealthGas by 31.3% in the 3rd quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company’s stock valued at $1,554,000 after purchasing an additional 56,493 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

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.