StealthGas (NASDAQ:GASS) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded StealthGas from “Buy” to “Hold,” signaling a more cautious view of the LPG shipping company’s shares.
• StealthGas reported quarterly EPS of $0.40, beating the $0.38 consensus estimate, while revenue of $42.84 million exceeded expectations of $38.40 million.
• The stock opened at $8.59, with a $322.3 million market capitalization and a 12-month trading range of $6.12 to $10.55; institutional investors and hedge funds own 66.32% of shares.

StealthGas (NASDAQ:GASS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

StealthGas Price Performance

Shares of NASDAQ GASS opened at $8.59 on Friday. The stock has a market capitalization of $322.30 million, a price-to-earnings ratio of 5.11 and a beta of 0.25. StealthGas has a 12 month low of $6.12 and a 12 month high of $10.55. The firm's 50 day simple moving average is $8.74 and its 200-day simple moving average is $8.95.

StealthGas (NASDAQ:GASS - Get Free Report) last posted its earnings results on Friday, June 5th. The shipping company reported $0.40 earnings per share (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 firm had revenue of $42.84 million during the quarter, compared to analysts' expectations of $38.40 million.

Institutional Investors Weigh In On StealthGas

A number of institutional investors have recently modified their holdings of the business. LOM Asset Management Ltd purchased a new position in shares of StealthGas in the 4th quarter valued at about $35,000. Royal Bank of Canada boosted its position in StealthGas by 343.3% during the fourth quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company's stock worth $36,000 after purchasing an additional 3,921 shares in the last quarter. Bank of America Corp DE boosted its position in StealthGas by 701.2% during the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company's stock worth $58,000 after purchasing an additional 8,982 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in StealthGas in the fourth quarter valued at approximately $78,000. Finally, XTX Topco Ltd acquired a new stake in StealthGas in the fourth quarter valued at approximately $79,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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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