StealthGas (NASDAQ:GASS) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

StealthGas (NASDAQ:GASS) released its earnings results on Wednesday. The shipping company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10), Zacks reports. StealthGas had a return on equity of 8.72% and a net margin of 35.91%.

StealthGas Stock Down 4.0%

Shares of StealthGas stock traded down $0.38 during trading hours on Wednesday, reaching $9.23. 49,868 shares of the company’s stock were exchanged, compared to its average volume of 141,151. StealthGas has a 1 year low of $6.12 and a 1 year high of $10.55. The company has a market capitalization of $347.32 million, a P/E ratio of 5.52 and a beta of 0.25. The business has a fifty day moving average of $8.85 and a two-hundred day moving average of $9.14.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of StealthGas from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Trading of StealthGas

Large investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of StealthGas by 343.3% during the 4th quarter. Royal Bank of Canada now owns 5,063 shares of the shipping company’s stock worth $36,000 after purchasing an additional 3,921 shares during the last quarter. Bank of America Corp DE lifted its position in StealthGas by 701.2% during the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock worth $58,000 after buying an additional 8,982 shares in the last quarter. Lazard Asset Management LLC purchased a new position in StealthGas during the fourth quarter worth approximately $78,000. XTX Topco Ltd acquired a new position in StealthGas during the fourth quarter worth $79,000. Finally, Jane Street Group LLC purchased a new stake in StealthGas in the 2nd quarter valued at $91,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

StealthGas Company Profile

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.