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

StealthGas, Inc. (NASDAQ:GASS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.32 and traded as high as $9.90. StealthGas shares last traded at $9.64, with a volume of 228,808 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded StealthGas from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas has an average rating of “Buy”.

StealthGas Stock Performance

The firm’s 50 day moving average is $8.14 and its 200 day moving average is $7.32. The stock has a market cap of $358.22 million, a P/E ratio of 5.88 and a beta of 0.22.

StealthGas (NASDAQ:GASS) last announced 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. StealthGas had a net margin of 35.03% and a return on equity of 9.08%. The company had revenue of $39.37 million during the quarter, compared to the consensus estimate of $39.80 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LOM Asset Management Ltd acquired a new position in StealthGas during the 4th quarter valued at about $35,000. Royal Bank of Canada boosted its holdings in StealthGas by 343.3% in 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 boosted its holdings in StealthGas by 701.2% in 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 purchased a new stake in shares of StealthGas during the fourth quarter worth about $78,000. Finally, XTX Topco Ltd purchased a new stake in shares of StealthGas during the fourth quarter worth about $79,000. 66.32% of the stock is currently owned by hedge funds and other 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.