StealthGas (NASDAQ:GASS) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• StealthGas shares rose above their 200-day moving average, reaching $9.62 and last trading at $9.60, compared with a 200-day average of $9.02.
• The company reported quarterly EPS of $0.40, beating estimates of $0.38, while revenue of $42.84 million exceeded the $38.40 million consensus; net margin was 35.91%.
• Despite one analyst downgrade from “Buy” to “Hold,” StealthGas retains a consensus “Buy” rating, and institutional investors own 66.32% of the stock.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.02 and traded as high as $9.62. StealthGas shares last traded at $9.60, with a volume of 234,811 shares.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of StealthGas from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy".

StealthGas Stock Performance

The firm has a market cap of $360.19 million, a PE ratio of 5.71 and a beta of 0.25. The stock has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $9.02.

StealthGas (NASDAQ:GASS - Get Free Report) last announced its quarterly earnings results on Friday, June 5th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $38.40 million.

Hedge Funds Weigh In On StealthGas

Several hedge funds and other institutional investors have recently modified their holdings of GASS. Royal Bank of Canada boosted its stake in shares of StealthGas by 343.3% in the 4th quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company's stock worth $36,000 after buying an additional 3,921 shares during the last quarter. Bank of America Corp DE grew 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 worth $58,000 after acquiring an additional 8,982 shares during the period. Lazard Asset Management LLC purchased a new stake in StealthGas during the fourth quarter valued at $78,000. XTX Topco Ltd purchased a new stake in StealthGas during the fourth quarter valued at $79,000. Finally, Jane Street Group LLC bought a new position in StealthGas in the second quarter valued at about $91,000. 66.32% of the stock is owned by institutional investors.

StealthGas Company Profile

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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