StealthGas (NASDAQ:GASS) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of StealthGas (NASDAQ:GASS) from a buy rating to a hold rating in a report published on Saturday.

StealthGas Price Performance

Shares of NASDAQ:GASS opened at $8.81 on Friday. The business has a 50-day moving average of $8.73 and a two-hundred day moving average of $8.97. The firm has a market capitalization of $330.55 million, a PE ratio of 5.24 and a beta of 0.25. StealthGas has a 12 month low of $6.12 and a 12 month high of $10.55.

StealthGas (NASDAQ:GASS) last released its quarterly earnings data 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. StealthGas had a return on equity of 8.72% and a net margin of 35.91%.The business had revenue of $42.84 million for the quarter, compared to analyst estimates of $38.40 million.

Institutional Investors Weigh In On StealthGas

Several institutional investors have recently bought and sold shares of GASS. LOM Asset Management Ltd purchased a new position in shares of StealthGas in the 4th quarter valued at $35,000. Royal Bank of Canada lifted 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 valued at $36,000 after acquiring an additional 3,921 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of StealthGas by 701.2% during the 4th 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 purchased a new stake in StealthGas during the 4th quarter worth $78,000. Finally, XTX Topco Ltd purchased a new stake in StealthGas during the 4th quarter worth $79,000. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

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.