StealthGas, Inc. (NASDAQ:GASS) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped 56.1% to 20,592 shares as of Feb. 27, equal to about 0.1% of shares outstanding and a days-to-cover ratio of just 0.2 days.
• Analyst upgrade and institutional buying: Wall Street Zen raised GASS to a "buy" and institutional investors now own 66.32% of the stock, with Bank of America increasing its stake by ~701% in Q4.
• Quarterly results and valuation: StealthGas topped EPS estimates ($0.36 vs. $0.32) while revenue was slightly under consensus, and the stock trades near $8.73 with a market cap of $324 million and a PE of 5.32.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 20,592 shares, an increase of 56.1% from the February 12th total of 13,191 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 111,957 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 111,957 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of StealthGas from a "hold" rating to a "buy" rating in a report on Sunday, December 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

Institutional Investors Weigh In On StealthGas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GASS. Bank of America Corp DE grew its stake in StealthGas by 701.2% in the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company's stock worth $58,000 after acquiring an additional 8,982 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of StealthGas by 1.7% in the second quarter. Acadian Asset Management LLC now owns 1,091,498 shares of the shipping company's stock valued at $6,975,000 after purchasing an additional 17,750 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in StealthGas by 9.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 64,557 shares of the shipping company's stock worth $414,000 after purchasing an additional 5,563 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in StealthGas during the 2nd quarter worth $103,000. Finally, Nipun Capital L.P. bought a new stake in StealthGas during the 2nd quarter valued at $90,000. Institutional investors own 66.32% of the company's stock.

StealthGas Stock Down 2.7%

GASS traded down $0.24 on Friday, hitting $8.73. The company had a trading volume of 177,125 shares, compared to its average volume of 246,286. The company has a market cap of $324.41 million, a PE ratio of 5.32 and a beta of 0.22. The business's fifty day simple moving average is $8.26 and its 200 day simple moving average is $7.35. StealthGas has a 12-month low of $4.90 and a 12-month high of $10.52.

StealthGas (NASDAQ:GASS - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The shipping company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. StealthGas had a return on equity of 9.08% and a net margin of 35.03%.The firm had revenue of $39.37 million during the quarter, compared to analyst estimates of $39.80 million.

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.

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