Short Interest in StealthGas, Inc. (NASDAQ:GASS) Rises By 296.0%

Key Points

• StealthGas, Inc. (NASDAQ:GASS) experienced a significant increase in short interest, rising 296.0% in July, with a total of 9,900 shares shorted by the end of the month.
• The company's stock price closed at $6.88, showing recent positive performance trends despite a notable increase in short selling.
• StealthGas reported earnings per share (EPS) of $0.44 for the last quarter, surpassing analysts' expectations of $0.33, indicating strong financial performance.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 9,900 shares, agrowthof296.0% from the July 15th total of 2,500 shares. Approximately0.0% of the shares of the stock are sold short. Based on an average daily volume of 90,700 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 90,700 shares, the short-interest ratio is presently 0.1 days. Approximately0.0% of the shares of the stock are sold short.

StealthGas Trading Up 1.3%

Shares of GASS traded up $0.09 during midday trading on Wednesday, hitting $6.98. The stock had a trading volume of 119,574 shares, compared to its average volume of 99,023. StealthGas has a fifty-two week low of $4.82 and a fifty-two week high of $7.26. The business has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $5.95. The firm has a market cap of $258.12 million, a P/E ratio of 3.88 and a beta of 0.39. The company has a current ratio of 1.90, a quick ratio of 1.83 and a debt-to-equity ratio of 0.05.

StealthGas (NASDAQ:GASS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The shipping company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. StealthGas had a net margin of 39.49% and a return on equity of 10.79%. The company had revenue of $42.03 million during the quarter, compared to analysts' expectations of $40.40 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sowell Financial Services LLC boosted its holdings in shares of StealthGas by 14.4% in the second quarter. Sowell Financial Services LLC now owns 19,900 shares of the shipping company's stock worth $128,000 after buying an additional 2,500 shares during the period. XTX Topco Ltd boosted its holdings in shares of StealthGas by 18.3% in the first quarter. XTX Topco Ltd now owns 18,328 shares of the shipping company's stock worth $104,000 after buying an additional 2,837 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of 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 buying an additional 5,563 shares during the period. Towerview LLC boosted its holdings in shares of StealthGas by 0.3% in the first quarter. Towerview LLC now owns 2,770,000 shares of the shipping company's stock worth $15,650,000 after buying an additional 7,500 shares during the period. Finally, Mraz Amerine & Associates Inc. boosted its holdings in shares of StealthGas by 49.7% during the second quarter. Mraz Amerine & Associates Inc. now owns 26,500 shares of the shipping company's stock worth $170,000 after purchasing an additional 8,800 shares during the period. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of StealthGas from a "buy" rating to a "hold" rating in a research note on Friday, May 30th.

About StealthGas

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.