StealthGas (NASDAQ:GASS) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?
by Mitch Edgeman · The Markets DailyShares of StealthGas, Inc. (NASDAQ:GASS – Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $9.20 and traded as high as $9.23. StealthGas shares last traded at $8.87, with a volume of 64,970 shares.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wall Street Zen cut StealthGas from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings lowered StealthGas from a “buy (b)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on StealthGas
StealthGas Stock Performance
The business has a 50-day simple moving average of $9.17 and a two-hundred day simple moving average of $9.20. The company has a market capitalization of $338.47 million, a price-to-earnings ratio of 5.66 and a beta of 0.25.
StealthGas (NASDAQ:GASS – Get Free Report) last released its earnings results on Wednesday, September 2nd. The shipping company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). StealthGas had a net margin of 34.97% and a return on equity of 7.87%. The company had revenue of $42.91 million during the quarter, compared to analyst estimates of $44.90 million.
Insider Buying and Selling
In other StealthGas news, Director Michael Jolliffe sold 36,200 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $9.25, for a total transaction of $334,850.00. Following the completion of the transaction, the director owned 54,500 shares in the company, valued at approximately $504,125. This represents a 39.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.10% of the company’s stock.
Institutional Investors Weigh In On StealthGas
A number of hedge funds have recently added to or reduced their stakes in GASS. Tidal Investments LLC purchased a new stake in StealthGas in the 2nd quarter valued at approximately $130,000. SG Americas Securities LLC purchased a new stake in shares of StealthGas in the first quarter valued at approximately $132,000. WINTON GROUP Ltd grew its holdings in StealthGas by 3.7% during the second quarter. WINTON GROUP Ltd now owns 41,680 shares of the shipping company’s stock worth $329,000 after acquiring an additional 1,483 shares during the period. R Squared Ltd grew 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 acquiring an additional 3,071 shares during the period. Finally, Militia Capital Management LLC purchased a new position in StealthGas in the first quarter worth $422,000. Institutional investors and hedge funds own 66.32% of the company’s stock.
About StealthGas
StealthGas, Inc (NASDAQ: GASS) is a maritime transportation company that owns and operates vessels used to transport liquefied petroleum gas (LPG). The company focuses primarily on small- and medium-sized LPG carriers, which transport products such as propane and butane for energy companies, commodity traders and other commercial customers.
StealthGas provides seaborne transportation services through a combination of time charters, voyage charters and other contractual arrangements. Its vessels serve international LPG trade routes, connecting production and export regions with markets and distribution facilities worldwide.