StealthGas, Inc. (NASDAQ:GASS) Sees Large Decline in Short Interest

StealthGas, Inc. (NASDAQ:GASS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 28,200 shares, a decrease of 27.7% from the August 31st total of 39,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 114,600 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 114,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

StealthGas Price Performance

Shares of GASS opened at $6.56 on Tuesday. StealthGas has a 12-month low of $4.82 and a 12-month high of $8.18. The stock has a market cap of $243.77 million, a P/E ratio of 3.98 and a beta of 0.30. The company has a quick ratio of 3.73, a current ratio of 3.87 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $7.04 and its 200 day moving average is $6.31.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in StealthGas by 701.2% in the 4th 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. Jump Financial LLC bought a new stake in StealthGas in the first quarter valued at approximately $63,000. Nipun Capital L.P. purchased a new position in shares of StealthGas in the second quarter valued at about $90,000. Jane Street Group LLC purchased a new stake in StealthGas in the 2nd quarter worth approximately $91,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of StealthGas in the 1st quarter worth about $98,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Wall Street Analysts Forecast Growth

GASS has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of StealthGas in a research note on Saturday, September 27th. Wall Street Zen raised StealthGas from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas has a consensus rating of “Buy”.

About StealthGas

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.