StealthGas, Inc. (NASDAQ:GASS) Sees Significant Growth in Short Interest

StealthGas, Inc. (NASDAQ:GASS) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 104,253 shares, a growth of 202.1% from the June 15th total of 34,507 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 161,491 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. LOM Asset Management Ltd purchased a new stake in StealthGas in the fourth quarter valued at about $35,000. Royal Bank of Canada increased its holdings in shares of StealthGas by 343.3% during 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. Bank of America Corp DE increased its holdings in shares of StealthGas by 701.2% during 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. Lazard Asset Management LLC acquired a new position in shares of StealthGas during the fourth quarter valued at about $78,000. Finally, XTX Topco Ltd purchased a new position in shares of StealthGas in the 4th quarter valued at approximately $79,000. 66.32% of the stock is owned by institutional investors and hedge funds.

StealthGas Stock Up 0.8%

Shares of NASDAQ GASS traded up $0.07 during trading hours on Tuesday, hitting $8.78. 68,453 shares of the stock were exchanged, compared to its average volume of 150,051. StealthGas has a 12 month low of $6.12 and a 12 month high of $10.55. The firm has a fifty day moving average price of $9.19 and a 200-day moving average price of $8.78. The company has a market cap of $329.43 million, a PE ratio of 5.23 and a beta of 0.25.

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

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 data from MarketBeat, the stock presently has an average rating of “Buy”.

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.