Short Interest in StealthGas, Inc. (NASDAQ:GASS) Increases By 202.1%

StealthGas, Inc. (NASDAQ:GASS) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 104,253 shares, a growth of 202.1% from the June 15th total of 34,507 shares. Based on an average trading volume of 161,491 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the shares of the company are short sold.

StealthGas Trading Up 1.9%

GASS traded up $0.17 during trading on Wednesday, hitting $8.94. The company’s stock had a trading volume of 20,066 shares, compared to its average volume of 149,372. The firm has a market capitalization of $335.24 million, a price-to-earnings ratio of 5.32 and a beta of 0.25. StealthGas has a twelve month low of $6.12 and a twelve month high of $10.55. The business’s fifty day simple moving average is $9.16 and its 200 day simple moving average is $8.79.

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

Hedge Funds Weigh In On StealthGas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Towerview LLC lifted its stake in 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 buying an additional 160,000 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in StealthGas during the 4th quarter worth approximately $185,000. R Squared Ltd increased its stake in StealthGas by 78.7% during the 4th quarter. R Squared Ltd now owns 35,104 shares of the shipping company’s stock worth $246,000 after buying an additional 15,456 shares in the last quarter. LOM Asset Management Ltd acquired a new position in shares of StealthGas during the fourth quarter valued at approximately $35,000. Finally, Sowell Financial Services LLC lifted its position in shares of StealthGas by 66.5% in the fourth quarter. Sowell Financial Services LLC now owns 33,125 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 13,225 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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