StealthGas, Inc. (NASDAQ:GASS) Short Interest Down 48.6% in July

StealthGas, Inc. (NASDAQ:GASS) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 53,573 shares, a drop of 48.6% from the June 30th total of 104,253 shares. Based on an average daily volume of 119,498 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are sold short.

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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Institutional Investors Weigh In On StealthGas

A number of hedge funds have recently modified their holdings of GASS. Towerview LLC grew its holdings in StealthGas by 5.5% during the 4th 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 in the last quarter. Renaissance Technologies LLC increased its stake 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 acquiring an additional 17,100 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in StealthGas by 2.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 514,871 shares of the shipping company’s stock worth $4,727,000 after acquiring an additional 12,142 shares during the last quarter. UBS Group AG increased its position in shares of StealthGas by 21.4% during the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company’s stock valued at $1,704,000 after purchasing an additional 45,846 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of 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 purchasing an additional 56,493 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

StealthGas Price Performance

Shares of StealthGas stock traded down $0.08 during trading on Wednesday, hitting $8.78. 36,766 shares of the company’s stock traded hands, compared to its average volume of 145,388. StealthGas has a 1 year low of $6.12 and a 1 year high of $10.55. The stock has a market capitalization of $329.43 million, a P/E ratio of 5.23 and a beta of 0.25. The business has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $8.91.

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

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.