StealthGas Inc. (NASDAQ:GASS - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 53,100 shares, a decrease of 45.6% from the September 30th total of 97,700 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 132,800 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Trading of StealthGas
Several hedge funds have recently modified their holdings of GASS. Acadian Asset Management LLC raised its stake in shares of StealthGas by 17.8% in the first quarter. Acadian Asset Management LLC now owns 1,250,536 shares of the shipping company's stock valued at $7,403,000 after acquiring an additional 189,157 shares during the period. Janney Montgomery Scott LLC boosted its position in StealthGas by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 97,163 shares of the shipping company's stock valued at $577,000 after buying an additional 8,054 shares during the period. EntryPoint Capital LLC purchased a new position in shares of StealthGas during the first quarter worth approximately $62,000. Inspire Advisors LLC bought a new stake in shares of StealthGas during the first quarter valued at approximately $232,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of StealthGas by 21.0% in the first quarter. Russell Investments Group Ltd. now owns 54,736 shares of the shipping company's stock valued at $325,000 after purchasing an additional 9,512 shares during the period. 66.32% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded StealthGas from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 15th.
View Our Latest Report on StealthGas
StealthGas Price Performance
NASDAQ:GASS traded down $0.02 on Friday, reaching $6.07. 55,141 shares of the company's stock traded hands, compared to its average volume of 113,387. The company has a quick ratio of 2.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. StealthGas has a 12 month low of $4.84 and a 12 month high of $8.84. The stock has a 50-day simple moving average of $6.48 and a 200-day simple moving average of $6.73. The firm has a market cap of $223.01 million, a PE ratio of 3.28 and a beta of 0.81.
StealthGas (NASDAQ:GASS - Get Free Report) last posted its earnings results on Thursday, September 5th. The shipping company reported $0.70 earnings per share for the quarter. The company had revenue of $39.12 million during the quarter. StealthGas had a net margin of 44.79% and a return on equity of 11.63%.
StealthGas Company Profile
(
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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.
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