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StealthGas, Inc. (GASS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of StealthGas, Inc. from a sell rating to a hold rating in a report published on Wednesday morning.

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. “

StealthGas (GASS) opened at 3.31 on Wednesday. The stock’s 50 day moving average price is $3.12 and its 200 day moving average price is $3.36. The company’s market capitalization is $131.74 million. StealthGas has a 12-month low of $2.65 and a 12-month high of $4.78.

StealthGas (NASDAQ:GASS) last posted its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. StealthGas had a negative net margin of 4.41% and a positive return on equity of 0.44%. The business had revenue of $39.27 million during the quarter, compared to the consensus estimate of $36.32 million. On average, equities analysts anticipate that StealthGas will post $0.16 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Robotti Robert lifted its stake in shares of StealthGas by 4.9% during the second quarter. Robotti Robert now owns 857,344 shares of the shipping company’s stock worth $2,623,000 after buying an additional 39,659 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of StealthGas by 6.7% during the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after buying an additional 42,867 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of StealthGas by 17.5% during the second quarter. Russell Investments Group Ltd. now owns 539,413 shares of the shipping company’s stock worth $1,754,000 after buying an additional 80,498 shares during the period. Gagnon Securities LLC lifted its stake in shares of StealthGas by 9.8% during the second quarter. Gagnon Securities LLC now owns 155,524 shares of the shipping company’s stock worth $505,000 after buying an additional 13,839 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of StealthGas by 3.3% during the first quarter. Renaissance Technologies LLC now owns 1,504,619 shares of the shipping company’s stock worth $6,003,000 after buying an additional 48,319 shares during the period. Institutional investors and hedge funds own 67.87% of the company’s stock.

StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
Source: MarketBeat

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