Short Interest in StealthGas, Inc. (NASDAQ:GASS) Drops By 57.0%

StealthGas, Inc. (NASDAQ:GASS) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 34,507 shares, a drop of 57.0% from the May 31st total of 80,305 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 148,726 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On StealthGas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Towerview LLC boosted its stake in shares of StealthGas by 5.5% in the 4th quarter. Towerview LLC now owns 3,067,500 shares of the shipping company’s stock valued at $21,534,000 after purchasing an additional 160,000 shares in the last quarter. Militia Capital Management LLC acquired a new position in StealthGas in the first quarter valued at about $422,000. Renaissance Technologies LLC grew its stake in StealthGas by 0.8% during the first quarter. Renaissance Technologies LLC now owns 2,032,631 shares of the shipping company’s stock worth $18,660,000 after buying an additional 17,100 shares during the last quarter. SG Americas Securities LLC bought a new stake in StealthGas during the first quarter worth about $132,000. Finally, Janney Montgomery Scott LLC grew its stake in StealthGas by 1.3% during the first quarter. Janney Montgomery Scott LLC now owns 155,140 shares of the shipping company’s stock worth $1,424,000 after buying an additional 1,929 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

StealthGas Trading Up 1.0%

Shares of StealthGas stock opened at $8.24 on Monday. The company’s fifty day simple moving average is $9.42 and its 200-day simple moving average is $8.67. StealthGas has a 1 year low of $6.12 and a 1 year high of $10.55. The company has a market cap of $309.24 million, a price-to-earnings ratio of 4.97 and a beta of 0.21.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings data on Friday, June 5th. The shipping company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $42.84 million during the quarter, compared to analyst estimates of $38.40 million. StealthGas had a net margin of 35.91% and a return on equity of 8.72%.

Analyst Ratings Changes

Separately, Wall Street Zen raised StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, StealthGas has a consensus rating of “Buy”.

About StealthGas

StealthGas Inc is an international shipping company specializing in the seaborne transportation of liquefied petroleum gases (LPG), including propane, butane and ammonia. The company operates a fleet of modern pressurized LPG carriers with capacities ranging from approximately 2,500 to 9,100 cubic meters, providing safe and efficient carriage of petrochemical gases worldwide.

Founded in 2005 and incorporated in the Republic of the Marshall Islands, StealthGas is headquartered in Athens, Greece, with additional commercial and operational offices in major shipping centers across Europe and Asia.