StealthGas, Inc. (NASDAQ:GASS) Short Interest Down 57.0% in June

StealthGas, Inc. (NASDAQ:GASS) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 34,507 shares, a drop of 57.0% from the May 31st total of 80,305 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 148,726 shares, the short-interest ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

StealthGas Stock Performance

Shares of GASS stock traded down $0.11 on Tuesday, hitting $7.90. The company’s stock had a trading volume of 146,562 shares, compared to its average volume of 152,448. The stock’s 50 day moving average is $9.40 and its 200-day moving average is $8.68. StealthGas has a fifty-two week low of $6.12 and a fifty-two week high of $10.55. The company has a market capitalization of $296.38 million, a PE ratio of 4.70 and a beta of 0.21.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings data on Friday, June 5th. The shipping company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $42.84 million during the quarter, compared to analysts’ expectations of $38.40 million. StealthGas had a net margin of 35.91% and a return on equity of 8.72%.

Institutional Investors Weigh In On StealthGas

Several institutional investors have recently made changes to their positions in the stock. LOM Asset Management Ltd bought a new position in StealthGas during the 4th quarter worth $35,000. Royal Bank of Canada grew its holdings in shares of StealthGas by 343.3% during the 4th quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock worth $36,000 after purchasing an additional 3,921 shares in the last quarter. Bank of America Corp DE increased its position 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 purchasing an additional 8,982 shares during the period. Lazard Asset Management LLC bought a new position in shares of StealthGas in the fourth quarter worth $78,000. Finally, XTX Topco Ltd acquired a new position in StealthGas in the fourth quarter valued at about $79,000. 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.