Zacks Investment Research Downgrades StealthGas (GASS) to Strong Sell

Zacks Investment Research lowered shares of StealthGas (NASDAQ:GASS) from a hold rating to a strong sell rating in a research report report published on Monday, May 28th.

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, TheStreet raised StealthGas from a d rating to a c- rating in a research report on Tuesday, February 27th.

Shares of NASDAQ GASS remained flat at $$3.85 during trading hours on Monday. The stock had a trading volume of 16,700 shares, compared to its average volume of 55,605. The company has a market cap of $156.65 million, a P/E ratio of 27.50 and a beta of 1.53. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. StealthGas has a 52-week low of $2.90 and a 52-week high of $4.70.

StealthGas (NASDAQ:GASS) last released its earnings results on Thursday, May 24th. The shipping company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.11). The company had revenue of $39.70 million for the quarter, compared to the consensus estimate of $37.79 million. StealthGas had a negative net margin of 5.77% and a positive return on equity of 0.24%. research analysts expect that StealthGas will post 0.05 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in StealthGas by 1.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,631,158 shares of the shipping company’s stock valued at $6,574,000 after acquiring an additional 18,361 shares during the last quarter. ClariVest Asset Management LLC bought a new position in StealthGas in the 1st quarter valued at $118,000. Boston Partners grew its position in StealthGas by 2.3% in the 4th quarter. Boston Partners now owns 2,038,540 shares of the shipping company’s stock valued at $8,888,000 after acquiring an additional 45,460 shares during the last quarter. Bailard Inc. bought a new position in StealthGas in the 1st quarter valued at $197,000. Finally, Renaissance Technologies LLC grew its position in StealthGas by 5.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,732,232 shares of the shipping company’s stock valued at $7,553,000 after acquiring an additional 83,732 shares during the last quarter. 61.77% of the stock is currently owned by hedge funds and other institutional investors.

StealthGas Company Profile

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 carries various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; and crude oil.

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