StealthGas (NASDAQ:GASS) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• StealthGas shares moved above their 200-day moving average, trading as high as $9.07 versus a 200-day average of $8.88 before closing at $8.83. The move came on volume of 80,059 shares.
• Wall Street Zen upgraded GASS from “hold” to “buy” in mid-June, and MarketBeat shows the stock’s overall analyst consensus is also “Buy.”
• The company recently beat quarterly expectations, reporting $0.40 EPS versus $0.38 expected and revenue of $42.84 million versus $38.40 million forecast. StealthGas also has a low beta of 0.25 and a market cap of about $331.3 million.

StealthGas, Inc. (NASDAQ:GASS - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.88 and traded as high as $9.07. StealthGas shares last traded at $8.83, with a volume of 80,059 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised StealthGas from a "hold" rating to a "buy" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy".

StealthGas Price Performance

The stock has a market capitalization of $331.30 million, a price-to-earnings ratio of 5.26 and a beta of 0.25. The business's fifty day moving average price is $8.96 and its 200-day moving average price is $8.88.

StealthGas (NASDAQ:GASS - Get Free Report) last posted its earnings results on Friday, June 5th. The shipping company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. StealthGas had a net margin of 35.91% and a return on equity of 8.72%. The company had revenue of $42.84 million during the quarter, compared to the consensus estimate of $38.40 million.

Institutional Trading of StealthGas

Several institutional investors and hedge funds have recently modified their holdings of GASS. Towerview LLC boosted its position in shares of StealthGas by 5.5% during the fourth quarter. Towerview LLC now owns 3,067,500 shares of the shipping company's stock valued at $21,534,000 after buying an additional 160,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in StealthGas by 0.8% during the first quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company's stock worth $18,660,000 after buying an additional 17,100 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in StealthGas by 2.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company's stock valued at $4,727,000 after buying an additional 12,142 shares during the last quarter. UBS Group AG raised its position in StealthGas by 21.4% in the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company's stock valued at $1,704,000 after buying an additional 45,846 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in StealthGas by 31.3% during the 3rd quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company's stock valued at $1,554,000 after acquiring an additional 56,493 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other 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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