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

Key Points

• StealthGas crossed above its 200-day moving average, trading as high as $9.14 versus the 200-day average of $7.77 (50-day average $9.09), a short-term bullish technical signal.
• Wall Street Zen upgraded the stock from "hold" to "buy" (one analyst rates the stock as Buy and MarketBeat shows a consensus Buy rating).
• The company reported Q earnings of $0.36 EPS (beats $0.32 estimate) on $39.37M revenue (slightly below $39.80M), with a 35.03% net margin, a P/E of 5.57 and a market cap around $339.6M.

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 $7.77 and traded as high as $9.14. StealthGas shares last traded at $9.14, with a volume of 77,106 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of StealthGas from a "hold" rating to a "buy" rating in a research report on Sunday, December 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".

StealthGas Price Performance

The firm's fifty day moving average price is $9.09 and its 200-day moving average price is $7.77. The firm has a market capitalization of $339.64 million, a P/E ratio of 5.57 and a beta of 0.20.

StealthGas (NASDAQ:GASS - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The shipping company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $39.37 million during the quarter, compared to analysts' expectations of $39.80 million. StealthGas had a net margin of 35.03% and a return on equity of 9.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in shares of StealthGas in the fourth quarter valued at approximately $78,000. Bank of America Corp DE boosted its holdings in shares of 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 in the last quarter. Royal Bank of Canada boosted its holdings in shares of StealthGas by 343.3% in the fourth quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company's stock valued at $36,000 after acquiring an additional 3,921 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of StealthGas in the first quarter valued at approximately $132,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of StealthGas by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 155,140 shares of the shipping company's stock valued at $1,424,000 after acquiring an additional 1,929 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

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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