StealthGas Inc. (NASDAQ:GASS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
A number of hedge funds and institutional investors have added to or reduced their stakes in GASS. Robotti Robert raised its position in StealthGas by 60.0% in the first quarter. Robotti Robert now owns 506,619 shares of the company’s stock worth $1,788,000 after buying an additional 189,969 shares during the last quarter. Royce & Associates LP raised its position in StealthGas by 1.7% in the first quarter. Royce & Associates LP now owns 1,764,367 shares of the company’s stock worth $6,228,000 after buying an additional 30,195 shares during the last quarter. Gagnon Securities LLC raised its position in StealthGas by 1.3% in the first quarter. Gagnon Securities LLC now owns 97,469 shares of the company’s stock worth $344,000 after buying an additional 1,262 shares during the last quarter. First Wilshire Securities Management Inc. raised its position in StealthGas by 20.7% in the fourth quarter. First Wilshire Securities Management Inc. now owns 574,266 shares of the company’s stock worth $1,970,000 after buying an additional 98,475 shares during the last quarter. Finally, Russell Frank Co raised its position in StealthGas by 5.3% in the fourth quarter. Russell Frank Co now owns 349,042 shares of the company’s stock worth $1,135,000 after buying an additional 17,564 shares during the last quarter.
StealthGas (NASDAQ:GASS) last posted its quarterly earnings data on Wednesday, May 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The firm earned $36.50 million during the quarter, compared to analysts’ expectations of $32.25 million. On average, equities research analysts anticipate that StealthGas will post $0.12 earnings per share for the current fiscal year.
A number of other research firms have also weighed in on GASS. Singular Research started coverage on StealthGas in a research note on Friday, April 29th. They issued a “buy” rating and a $7.00 target price for the company. Jefferies Group boosted their target price on StealthGas from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.50.
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.
