StealthGas (NASDAQ:GASS) Rating Lowered to Buy at StockNews.com

StealthGas (NASDAQ:GASS) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

StealthGas Price Performance

StealthGas stock opened at $6.89 on Friday. StealthGas has a 52-week low of $4.73 and a 52-week high of $8.84. The company has a market cap of $249.02 million, a price-to-earnings ratio of 4.85 and a beta of 0.80. The firm’s fifty day moving average is $6.30 and its 200 day moving average is $6.60. The company has a quick ratio of 2.20, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On StealthGas

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in StealthGas during the second quarter valued at approximately $504,000. Sei Investments Co. grew its position in shares of StealthGas by 37.6% during the 2nd quarter. Sei Investments Co. now owns 26,412 shares of the shipping company’s stock valued at $194,000 after acquiring an additional 7,222 shares during the period. XTX Topco Ltd purchased a new position in StealthGas during the second quarter worth approximately $146,000. Inspire Advisors LLC increased its position in shares of StealthGas by 41.3% in the second quarter. Inspire Advisors LLC now owns 55,072 shares of the shipping company’s stock valued at $405,000 after buying an additional 16,085 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in StealthGas by 9.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,374,210 shares of the shipping company’s stock worth $10,073,000 after buying an additional 123,674 shares in the last quarter. Institutional investors own 66.32% of the company’s stock.

StealthGas Company Profile

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.