StealthGas (NASDAQ:GASS) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• StealthGas shares crossed above their 200-day moving average of $5.91, trading at $6.77 with a daily high of $6.91.
• Despite this positive movement, Wall Street Zen downgraded the stock from a "buy" rating to a "hold" rating on May 30th.
• The company reported quarterly earnings of $0.44 per share, exceeding estimates, and showed a revenue of $42.03 million against a consensus of $40.40 million.

Shares of StealthGas, Inc. (NASDAQ:GASS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.91 and traded as high as $6.91. StealthGas shares last traded at $6.77, with a volume of 123,714 shares traded.

Wall Street Analyst Weigh In

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

StealthGas Stock Down 0.9%

The company has a current ratio of 1.90, a quick ratio of 1.83 and a debt-to-equity ratio of 0.05. The stock's 50-day simple moving average is $6.63 and its 200-day simple moving average is $5.91. The firm has a market capitalization of $250.35 million, a P/E ratio of 3.76 and a beta of 0.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sowell Financial Services LLC grew its position in shares of StealthGas by 14.4% during the 2nd quarter. Sowell Financial Services LLC now owns 19,900 shares of the shipping company's stock valued at $128,000 after acquiring an additional 2,500 shares during the period. XTX Topco Ltd boosted its holdings in StealthGas by 18.3% in the 1st quarter. XTX Topco Ltd now owns 18,328 shares of the shipping company's stock valued at $104,000 after purchasing an additional 2,837 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in StealthGas by 9.4% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 64,557 shares of the shipping company's stock valued at $414,000 after purchasing an additional 5,563 shares during the period. Towerview LLC boosted its holdings in StealthGas by 0.3% in the 1st quarter. Towerview LLC now owns 2,770,000 shares of the shipping company's stock valued at $15,650,000 after purchasing an additional 7,500 shares during the period. Finally, Mraz Amerine & Associates Inc. boosted its holdings in StealthGas by 49.7% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 26,500 shares of the shipping company's stock valued at $170,000 after purchasing an additional 8,800 shares during the period. 66.32% of the stock is owned by institutional investors.

StealthGas Company Profile

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.

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