StealthGas Inc. (GASS) Downgraded by Zacks Investment Research
TIN news: Zacks Investment Research downgraded shares of StealthGas Inc. (NASDAQ:GASS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, April 25th.
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. “
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StealthGas (NASDAQ:GASS) opened at 3.11 on Tuesday. The firm has a 50-day moving average price of $3.52 and a 200-day moving average price of $3.68. The stock’s market cap is $123.78 million. StealthGas has a one year low of $2.65 and a one year high of $5.18.
StealthGas (NASDAQ:GASS) last issued its quarterly earnings data on Thursday, February 23rd. The shipping company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The business had revenue of $37.47 million for the quarter, compared to the consensus estimate of $33.88 million. StealthGas had a negative return on equity of 0.43% and a negative net margin of 4.49%. On average, equities analysts predict that StealthGas will post $0.13 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in StealthGas by 13.2% in the fourth quarter. State Street Corp now owns 36,524 shares of the shipping company’s stock worth $123,000 after buying an additional 4,258 shares during the period. Morgan Stanley raised its stake in StealthGas by 85.1% in the first quarter. Morgan Stanley now owns 45,681 shares of the shipping company’s stock worth $183,000 after buying an additional 21,000 shares during the period. Towerview LLC raised its stake in StealthGas by 13.6% in the third quarter. Towerview LLC now owns 136,329 shares of the shipping company’s stock worth $472,000 after buying an additional 16,329 shares during the period. Gagnon Securities LLC raised its stake in shares of StealthGas by 49.6% in the first quarter. Gagnon Securities LLC now owns 141,685 shares of the shipping company’s stock valued at $565,000 after buying an additional 46,979 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of StealthGas during the fourth quarter valued at $1,484,000. 62.99% of the stock is currently owned by hedge funds and other institutional investors.
