StealthGas (NASDAQ:GASS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of StealthGas (NASDAQ:GASS) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

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. “

Shares of NASDAQ:GASS opened at $2.25 on Tuesday. The business’s fifty day moving average price is $2.43 and its two-hundred day moving average price is $2.57. StealthGas has a fifty-two week low of $2.07 and a fifty-two week high of $3.32. The stock has a market capitalization of $85.19 million, a price-to-earnings ratio of 32.14 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.81 and a quick ratio of 0.76.

StealthGas (NASDAQ:GASS) last announced its earnings results on Wednesday, December 8th. The shipping company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $32.96 million for the quarter, compared to analysts’ expectations of $31.79 million. StealthGas had a return on equity of 1.45% and a net margin of 1.89%. During the same quarter in the prior year, the business earned $0.08 earnings per share. Research analysts expect that StealthGas will post 0.16 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Group One Trading L.P. bought a new stake in shares of StealthGas during the second quarter worth $32,000. Two Sigma Securities LLC bought a new stake in shares of StealthGas during the third quarter worth $44,000. Geode Capital Management LLC grew its holdings in shares of StealthGas by 12.2% during the third quarter. Geode Capital Management LLC now owns 39,172 shares of the shipping company’s stock worth $104,000 after purchasing an additional 4,250 shares during the last quarter. Susquehanna International Group LLP lifted its stake in shares of StealthGas by 45.1% during the second quarter. Susquehanna International Group LLP now owns 39,573 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 12,303 shares during the period. Finally, Morgan Stanley lifted its stake in shares of StealthGas by 2,023.0% during the third quarter. Morgan Stanley now owns 45,241 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 43,110 shares during the period. Institutional investors own 50.96% of the company’s stock.

About StealthGas

StealthGas, Inc engages in the provision of international energy seaborne transportation services to liquefied petroleum gas sectors. Its owns fleet of vessels that carry petroleum and petrochemical gas products in liquefied form such as propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer.

Further Reading: What is a conference call?

Get a free copy of the Zacks research report on StealthGas (GASS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for StealthGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StealthGas and related companies with MarketBeat.com's FREE daily email newsletter.