StealthGas (NASDAQ:GASS) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• StealthGas's stock price has crossed above its 200-day moving average of $6.24, reaching a high of $7.10 during trading, and last traded at $6.94 with a volume of 100,071 shares.
• Wall Street Zen upgraded StealthGas's rating from "hold" to "buy" on August 30th, indicating a positive outlook for the stock.
• Institutional investors have increased their holdings significantly, with Bank of America boosting its investment in StealthGas by 701.2% during the fourth quarter, now owning 10,263 shares valued at approximately $58,000.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.24 and traded as high as $7.10. StealthGas shares last traded at $6.94, with a volume of 100,071 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised StealthGas from a "hold" rating to a "buy" rating in a report on Saturday, August 30th.

StealthGas Stock Performance

The stock has a market cap of $257.89 million, a price-to-earnings ratio of 4.21 and a beta of 0.32. The company has a quick ratio of 3.73, a current ratio of 3.87 and a debt-to-equity ratio of 0.04. The company has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $6.24.

Institutional Trading of StealthGas

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted 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 last quarter. Lazard Asset Management LLC bought a new position in shares of StealthGas during the 4th quarter worth approximately $61,000. Jump Financial LLC acquired a new position in shares of StealthGas during the first quarter worth approximately $63,000. Nipun Capital L.P. acquired a new position in shares of StealthGas during the second quarter worth approximately $90,000. Finally, Jane Street Group LLC acquired a new position in shares of StealthGas during the second quarter worth approximately $91,000. 66.32% of the stock is currently owned by institutional investors.

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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