StealthGas, Inc. (NASDAQ:GASS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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. “

StealthGas (NASDAQ:GASS) opened at 3.31 on Friday. The company has a 50 day moving average of $3.09 and a 200-day moving average of $3.49. The stock’s market capitalization is $131.74 million. StealthGas has a one year low of $2.65 and a one year high of $4.78.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $39.27 million for the quarter, compared to analyst estimates of $36.32 million. StealthGas had a positive return on equity of 0.44% and a negative net margin of 4.41%. Equities research analysts predict that StealthGas will post $0.16 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of GASS. Parametric Portfolio Associates LLC raised its stake in StealthGas by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock valued at $2,707,000 after buying an additional 42,867 shares during the period. Gagnon Securities LLC raised its stake in StealthGas by 9.8% in the second quarter. Gagnon Securities LLC now owns 155,524 shares of the shipping company’s stock valued at $505,000 after buying an additional 13,839 shares during the period. Renaissance Technologies LLC raised its stake in StealthGas by 3.3% in the first quarter. Renaissance Technologies LLC now owns 1,504,619 shares of the shipping company’s stock valued at $6,003,000 after buying an additional 48,319 shares during the period. Russell Investments Group Ltd. raised its stake in StealthGas by 8.2% in the first quarter. Russell Investments Group Ltd. now owns 458,915 shares of the shipping company’s stock valued at $1,831,000 after buying an additional 34,900 shares during the period. Finally, Towerview LLC raised its stake in StealthGas by 33.3% in the second quarter. Towerview LLC now owns 200,000 shares of the shipping company’s stock valued at $650,000 after buying an additional 50,000 shares during the period. 62.66% of the stock is currently owned by hedge funds and other institutional investors.

About StealthGas

StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.

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