StealthGas (NASDAQ:GASS) Issues Earnings Results

StealthGas (NASDAQ:GASS) posted its earnings results on Friday. The shipping company reported $0.38 earnings per share (EPS) for the quarter, Zacks reports. StealthGas had a net margin of 40.87% and a return on equity of 11.36%. The company had revenue of $40.25 million during the quarter.

StealthGas Stock Up 8.3 %

NASDAQ GASS traded up $0.46 on Friday, reaching $6.01. The company had a trading volume of 456,360 shares, compared to its average volume of 83,941. The firm has a market capitalization of $220.81 million, a price-to-earnings ratio of 3.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 2.66. StealthGas has a 1-year low of $4.82 and a 1-year high of $8.84. The company’s fifty day moving average is $5.60 and its 200-day moving average is $5.94.

Hedge Funds Weigh In On StealthGas

A hedge fund recently raised its stake in StealthGas stock. Bank of America Corp DE lifted its holdings in shares of StealthGas Inc. (NASDAQ:GASS) by 701.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,263 shares of the shipping company’s stock after buying an additional 8,982 shares during the period. Bank of America Corp DE’s holdings in StealthGas were worth $58,000 at the end of the most recent quarter. 66.32% of the stock is currently owned by institutional investors.

About StealthGas

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.