StealthGas, Inc. (NASDAQ:GASS) Short Interest Down 57.0% in June

StealthGas, Inc. (NASDAQ:GASS) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 34,507 shares, a decrease of 57.0% from the May 31st total of 80,305 shares. Based on an average daily trading volume, of 148,726 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of StealthGas from a “hold” rating to a “buy” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Militia Capital Management LLC purchased a new stake in StealthGas in the 1st quarter worth approximately $422,000. NewEdge Advisors LLC increased its holdings in shares of StealthGas by 5.0% during the 1st quarter. NewEdge Advisors LLC now owns 50,094 shares of the shipping company’s stock valued at $460,000 after purchasing an additional 2,388 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of StealthGas by 0.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company’s stock valued at $18,660,000 after purchasing an additional 17,100 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of StealthGas by 2.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company’s stock valued at $4,727,000 after purchasing an additional 12,142 shares during the period. Finally, R Squared Ltd boosted its holdings in StealthGas by 8.7% during the first quarter. R Squared Ltd now owns 38,175 shares of the shipping company’s stock worth $350,000 after buying an additional 3,071 shares in the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

StealthGas Trading Up 0.8%

GASS traded up $0.07 during midday trading on Wednesday, hitting $7.96. 51,155 shares of the company were exchanged, compared to its average volume of 151,724. The company’s 50 day simple moving average is $9.37 and its 200 day simple moving average is $8.68. The firm has a market capitalization of $298.85 million, a price-to-earnings ratio of 4.74 and a beta of 0.21. StealthGas has a 1-year low of $6.12 and a 1-year high of $10.55.

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

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.