StealthGas (NASDAQ:GASS) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• StealthGas shares rose above their 200-day moving average of $9.09, reaching $9.76 before last trading at $9.36 on relatively light volume.
• Wall Street Zen downgraded the stock from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” based on one analyst rating.
• The company reported stronger-than-expected quarterly results, with EPS of $0.40 versus the $0.38 estimate and revenue of $42.84 million versus the $38.40 million consensus. Hedge funds and institutional investors own 66.32% of the shares.

Shares of StealthGas, Inc. (NASDAQ:GASS - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.09 and traded as high as $9.76. StealthGas shares last traded at $9.36, with a volume of 67,871 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered StealthGas from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy".

StealthGas Stock Down 2.8%

The company has a market cap of $351.19 million, a PE ratio of 5.57 and a beta of 0.25. The firm has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $9.09.

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

Hedge Funds Weigh In On StealthGas

Several institutional investors and hedge funds have recently bought and sold shares of GASS. Towerview LLC lifted its holdings in shares of StealthGas by 5.5% during the 4th quarter. Towerview LLC now owns 3,067,500 shares of the shipping company's stock valued at $21,534,000 after purchasing an additional 160,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in StealthGas by 0.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company's stock worth $18,660,000 after buying an additional 17,100 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in StealthGas by 2.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company's stock valued at $4,727,000 after buying an additional 12,142 shares in the last quarter. UBS Group AG increased its position in StealthGas by 21.4% during the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company's stock valued at $1,704,000 after buying an additional 45,846 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in StealthGas by 31.3% in the third quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company's stock valued at $1,554,000 after buying an additional 56,493 shares during the last quarter. 66.32% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source