StealthGas (NASDAQ:GASS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of StealthGas (NASDAQ:GASS) from a buy rating to a hold rating in a research note published on Saturday morning.

StealthGas Stock Down 0.9%

Shares of StealthGas stock opened at $8.59 on Friday. The firm’s 50 day moving average is $8.74 and its two-hundred day moving average is $8.95. StealthGas has a 52 week low of $6.12 and a 52 week high of $10.55. The firm has a market capitalization of $322.30 million, a P/E ratio of 5.11 and a beta of 0.25.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings results on Friday, June 5th. The shipping company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $42.84 million for 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%.

Hedge Funds Weigh In On StealthGas

Several institutional investors have recently added to or reduced their stakes in the stock. LOM Asset Management Ltd acquired a new position in shares of StealthGas in the fourth quarter valued at approximately $35,000. Royal Bank of Canada lifted its stake in shares of StealthGas by 343.3% in the fourth quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 3,921 shares during the period. Bank of America Corp DE boosted its stake in shares of StealthGas by 701.2% during the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock worth $58,000 after acquiring an additional 8,982 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in StealthGas during the fourth quarter worth $78,000. Finally, XTX Topco Ltd purchased a new stake in shares of StealthGas in the 4th quarter worth about $79,000. Institutional investors and hedge funds own 66.32% of the company’s stock.

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.