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

Key Points

• Short interest in StealthGas surged 202.1% in June, reaching 104,253 shares as of June 30. That represents about 0.4% of shares outstanding, with a low days-to-cover ratio of 0.6 days.
• GASS shares were down 2.2% in Monday trading, closing at $8.70. The stock trades near its 50-day and 200-day moving averages, with a market cap of $326.4 million and a low beta of 0.25.
• StealthGas beat earnings expectations in its latest quarter, reporting $0.40 EPS versus the $0.38 estimate and revenue of $42.84 million versus $38.40 million expected. A recent analyst upgrade from hold to buy helped support a consensus Buy rating.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 104,253 shares, an increase of 202.1% from the June 15th total of 34,507 shares. Based on an average daily volume of 161,491 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the shares of the company are short sold.

StealthGas Stock Down 2.2%

Shares of NASDAQ:GASS traded down $0.20 during midday trading on Monday, reaching $8.70. The company's stock had a trading volume of 103,325 shares, compared to its average volume of 150,572. The firm has a market capitalization of $326.40 million, a PE ratio of 5.20 and a beta of 0.25. StealthGas has a twelve month low of $6.12 and a twelve month high of $10.55. The stock has a fifty day moving average of $9.22 and a 200 day moving average of $8.77.

StealthGas (NASDAQ:GASS - Get Free Report) last issued its 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. StealthGas had a net margin of 35.91% and a return on equity of 8.72%. The firm had revenue of $42.84 million during the quarter, compared to analysts' expectations of $38.40 million.

Analyst Ratings Changes

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

Institutional Trading of StealthGas

A number of hedge funds have recently modified their holdings of GASS. LOM Asset Management Ltd acquired a new stake in StealthGas during the fourth quarter worth about $35,000. Royal Bank of Canada lifted its holdings in StealthGas by 343.3% in 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 period. Bank of America Corp DE lifted its holdings in StealthGas by 701.2% in 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 period. Lazard Asset Management LLC purchased a new stake in StealthGas in the 4th quarter worth approximately $78,000. Finally, XTX Topco Ltd purchased a new stake in StealthGas in the 4th quarter worth approximately $79,000. Hedge funds and other institutional investors own 66.32% of the company's stock.

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.

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