StealthGas, Inc. (NASDAQ:GASS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, May 30th. The brokerage currently has a $4.00 price target on the shipping company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 22.32% from the stock’s previous close.
According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “
StealthGas (GASS) traded up 1.23% on Tuesday, reaching $3.29. 62,189 shares of the company’s stock were exchanged. StealthGas has a 52 week low of $2.65 and a 52 week high of $4.78. The company’s market cap is $130.95 million. The stock’s 50 day moving average is $3.18 and its 200 day moving average is $3.65.
StealthGas (NASDAQ:GASS) last announced its quarterly earnings data on Thursday, May 25th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.07. The business had revenue of $38.06 million during the quarter, compared to analysts’ expectations of $33.30 million. StealthGas had a negative return on equity of 0.09% and a negative net margin of 4.41%. On average, equities analysts anticipate that StealthGas will post $0.17 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in StealthGas during the first quarter valued at $114,000. Gagnon Securities LLC increased its position in shares of StealthGas by 49.6% in the first quarter. Gagnon Securities LLC now owns 141,685 shares of the shipping company’s stock valued at $565,000 after buying an additional 46,979 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in StealthGas during the fourth quarter worth approximately $1,484,000. Parametric Portfolio Associates LLC increased its stake in StealthGas by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after buying an additional 42,867 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in StealthGas by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,456,300 shares of the shipping company’s stock worth $4,922,000 after buying an additional 21,100 shares in the last quarter. 62.66% of the stock is owned by institutional investors.
StealthGas Company Profile
StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
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