StealthGas Inc. (NASDAQ:GASS) Short Interest Down 35.4% in September

StealthGas Inc. (NASDAQ:GASS) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,300 shares, a decrease of 35.4% from the August 30th total of 11,300 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 38,700 shares, the days-to-cover ratio is presently 0.2 days.

StealthGas stock traded up $0.16 during mid-day trading on Friday, hitting $3.33. 25,080 shares of the company’s stock were exchanged, compared to its average volume of 21,463. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.63. The stock has a market cap of $125.19 million, a P/E ratio of 104.00 and a beta of 1.46. StealthGas has a 1-year low of $2.73 and a 1-year high of $4.18. The stock has a 50 day moving average of $3.11 and a two-hundred day moving average of $3.39.

StealthGas (NASDAQ:GASS) last posted its earnings results on Thursday, August 22nd. The shipping company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $29.94 million for the quarter, compared to the consensus estimate of $33.79 million. StealthGas had a negative net margin of 2.81% and a positive return on equity of 0.11%. As a group, research analysts predict that StealthGas will post 0.14 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in StealthGas during the second quarter worth $34,000. Renaissance Technologies LLC increased its position in StealthGas by 5.6% during the second quarter. Renaissance Technologies LLC now owns 2,087,726 shares of the shipping company’s stock worth $7,182,000 after buying an additional 109,933 shares during the last quarter. Russell Investments Group Ltd. increased its position in StealthGas by 18.2% during the second quarter. Russell Investments Group Ltd. now owns 2,985,339 shares of the shipping company’s stock worth $10,267,000 after buying an additional 460,335 shares during the last quarter. Boston Partners increased its position in StealthGas by 1.5% during the second quarter. Boston Partners now owns 1,204,487 shares of the shipping company’s stock worth $4,144,000 after buying an additional 18,329 shares during the last quarter. Finally, Towerview LLC increased its position in StealthGas by 7.9% during the second quarter. Towerview LLC now owns 580,000 shares of the shipping company’s stock worth $1,995,000 after buying an additional 42,525 shares during the last quarter. 58.71% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on GASS shares. ValuEngine downgraded shares of StealthGas from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Zacks Investment Research raised shares of StealthGas from a “sell” rating to a “hold” rating in a research note on Tuesday.

About StealthGas

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

See Also: Commodities

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