StealthGas Inc. (NASDAQ:GASS) Sees Large Increase in Short Interest

StealthGas Inc. (NASDAQ:GASSGet Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 329,200 shares, an increase of 26.3% from the May 15th total of 260,600 shares. Based on an average trading volume of 141,400 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.3% of the shares of the company are sold short.

StealthGas Price Performance

GASS stock traded down $0.07 during midday trading on Monday, hitting $7.40. The company’s stock had a trading volume of 194,680 shares, compared to its average volume of 171,994. StealthGas has a 12 month low of $3.38 and a 12 month high of $8.84. The company has a quick ratio of 2.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $267.44 million, a price-to-earnings ratio of 5.21 and a beta of 0.84. The company has a 50 day moving average of $6.94 and a two-hundred day moving average of $6.75.

StealthGas (NASDAQ:GASSGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.49 earnings per share for the quarter. StealthGas had a return on equity of 9.19% and a net margin of 35.95%. The business had revenue of $38.71 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in StealthGas in the 1st quarter worth approximately $62,000. Virtu Financial LLC bought a new position in shares of StealthGas during the 1st quarter valued at approximately $64,000. New York State Common Retirement Fund bought a new position in shares of StealthGas during the 3rd quarter valued at approximately $57,000. Heron Bay Capital Management bought a new position in shares of StealthGas during the 1st quarter valued at approximately $78,000. Finally, DGS Capital Management LLC bought a new position in shares of StealthGas during the 1st quarter valued at approximately $106,000. 66.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded StealthGas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 1st.

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About StealthGas

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StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.

Further Reading

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