Zacks Investment Research Lowers StealthGas, Inc. (GASS) to Sell

Zacks Investment Research cut shares of StealthGas, Inc. (NASDAQ:GASS) from a hold rating to a sell rating in a report published on Friday.

According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “

StealthGas (GASS) opened at 3.65 on Friday. The stock’s market capitalization is $145.28 million. StealthGas has a 12 month low of $2.65 and a 12 month high of $4.78. The company’s 50-day moving average price is $3.37 and its 200 day moving average price is $3.27.

StealthGas (NASDAQ:GASS) last released its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. StealthGas had a positive return on equity of 0.44% and a negative net margin of 4.41%. The firm had revenue of $39.27 million during the quarter, compared to the consensus estimate of $36.32 million. On average, analysts forecast that StealthGas will post $0.15 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the business. Robotti Robert increased its position in StealthGas by 4.9% during the second quarter. Robotti Robert now owns 857,344 shares of the shipping company’s stock worth $2,623,000 after buying an additional 39,659 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in StealthGas by 6.7% during the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after buying an additional 42,867 shares in the last quarter. Russell Investments Group Ltd. increased its position in StealthGas by 17.5% during the second quarter. Russell Investments Group Ltd. now owns 539,413 shares of the shipping company’s stock worth $1,754,000 after buying an additional 80,498 shares in the last quarter. Renaissance Technologies LLC increased its position in StealthGas by 3.3% during the first quarter. Renaissance Technologies LLC now owns 1,504,619 shares of the shipping company’s stock worth $6,003,000 after buying an additional 48,319 shares in the last quarter. Finally, Gagnon Securities LLC increased its position in StealthGas by 9.8% during the second quarter. Gagnon Securities LLC now owns 155,524 shares of the shipping company’s stock worth $505,000 after buying an additional 13,839 shares in the last quarter. 67.87% of the stock is owned by institutional investors.

About StealthGas

StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.

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