StealthGas (NASDAQ:GASS) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of StealthGas (NASDAQ:GASS) from a sell rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

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. “

Separately, ValuEngine lowered shares of StealthGas from a buy rating to a hold rating in a report on Monday, August 26th.

GASS traded up $0.23 during trading hours on Monday, reaching $3.51. 2,879 shares of the stock traded hands, compared to its average volume of 44,084. The firm’s fifty day simple moving average is $3.28 and its two-hundred day simple moving average is $3.36. The company has a market cap of $130.41 million, a price-to-earnings ratio of 108.33 and a beta of 1.49. StealthGas has a fifty-two week low of $2.73 and a fifty-two week high of $4.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.10.

StealthGas (NASDAQ:GASS) last released its quarterly earnings results on Thursday, August 22nd. The shipping company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The business had revenue of $29.94 million during the quarter, compared to analyst estimates of $33.79 million. StealthGas had a negative net margin of 2.81% and a positive return on equity of 0.11%. On average, research analysts predict that StealthGas will post 0.06 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new position in StealthGas during the 2nd quarter worth $34,000. Boston Partners grew its holdings in StealthGas by 1.5% during the 2nd quarter. Boston Partners now owns 1,204,487 shares of the shipping company’s stock worth $4,144,000 after acquiring an additional 18,329 shares in the last quarter. Towerview LLC grew its holdings in StealthGas by 4.2% during the 3rd quarter. Towerview LLC now owns 604,149 shares of the shipping company’s stock worth $1,831,000 after acquiring an additional 24,149 shares in the last quarter. California Public Employees Retirement System grew its holdings in StealthGas by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 538,400 shares of the shipping company’s stock worth $1,631,000 after acquiring an additional 29,500 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in StealthGas by 5.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,087,726 shares of the shipping company’s stock worth $7,182,000 after acquiring an additional 109,933 shares in the last quarter. 59.90% of the stock is owned by institutional investors.

About StealthGas

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

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