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

Key Points

• StealthGas shares have surpassed their 200-day moving average of $6.31, trading as high as $6.62, and closing at $6.56 with a volume of 87,050 shares.
• Research analysts have upgraded StealthGas, with Wall Street Zen changing their rating from "hold" to "buy," contributing to a consensus rating of "buy" for the stock.
• Institutional investors hold 66.32% of StealthGas, with significant increases in positions from firms such as Bank of America Corp DE, which raised its stake by 701.2% in the last quarter.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.31 and traded as high as $6.62. StealthGas shares last traded at $6.56, with a volume of 87,050 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GASS shares. Wall Street Zen upgraded StealthGas from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of StealthGas in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

StealthGas Stock Up 1.1%

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.87 and a quick ratio of 3.73. The firm has a 50-day moving average of $7.04 and a 200 day moving average of $6.31. The stock has a market capitalization of $243.77 million, a price-to-earnings ratio of 3.98 and a beta of 0.30.

Hedge Funds Weigh In On StealthGas

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised 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 acquiring an additional 8,982 shares in the last quarter. Jump Financial LLC bought a new stake in shares of StealthGas in the 1st quarter valued at about $63,000. Nipun Capital L.P. acquired a new stake in StealthGas in the 2nd quarter valued at about $90,000. Jane Street Group LLC bought a new position in StealthGas during the second quarter worth about $91,000. Finally, Sowell Financial Services LLC acquired a new position in StealthGas during the first quarter worth approximately $98,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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