StealthGas, Inc. (NASDAQ:GASS) Short Interest Down 48.6% in July

StealthGas, Inc. (NASDAQ:GASS) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 53,573 shares, a decrease of 48.6% from the June 30th total of 104,253 shares. Based on an average daily volume of 119,498 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the stock are sold short.

StealthGas Trading Up 0.9%

NASDAQ GASS opened at $8.84 on Friday. StealthGas has a 1-year low of $6.12 and a 1-year high of $10.55. The stock has a 50-day moving average of $8.85 and a 200-day moving average of $8.92. The firm has a market cap of $331.68 million, a PE ratio of 5.26 and a beta of 0.25.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GASS. LOM Asset Management Ltd bought a new stake in StealthGas during the 4th quarter valued at $35,000. Royal Bank of Canada raised its stake 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 valued at $36,000 after acquiring an additional 3,921 shares during the last quarter. Bank of America Corp DE raised its stake 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 valued at $58,000 after acquiring an additional 8,982 shares during 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. Institutional investors own 66.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas currently has a consensus rating of “Buy”.

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.