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

StealthGas Inc. (NASDAQ:GASS) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 40,000 shares, a decrease of 69.7% from the December 15th total of 132,000 shares. Based on an average daily volume of 163,300 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the shares of the stock are short sold.

StealthGas Price Performance

Shares of GASS traded up $0.08 during mid-day trading on Tuesday, hitting $6.03. 111,639 shares of the company traded hands, compared to its average volume of 181,121. StealthGas has a one year low of $4.82 and a one year high of $8.84. The stock has a market capitalization of $221.55 million, a price-to-earnings ratio of 3.41 and a beta of 0.79. The company has a current ratio of 2.66, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $5.54 and a 200 day moving average of $6.15.

Institutional Investors Weigh In On StealthGas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Towerview LLC raised its holdings in shares of StealthGas by 10.0% during the third quarter. Towerview LLC now owns 2,457,500 shares of the shipping company’s stock worth $16,736,000 after acquiring an additional 222,500 shares during the period. State Street Corp raised its holdings in shares of StealthGas by 44.7% during the third quarter. State Street Corp now owns 45,596 shares of the shipping company’s stock worth $311,000 after acquiring an additional 14,093 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of StealthGas by 16.6% during the third quarter. Sanctuary Advisors LLC now owns 79,987 shares of the shipping company’s stock worth $545,000 after acquiring an additional 11,383 shares during the period. PDT Partners LLC increased its stake in StealthGas by 42.6% in the 3rd quarter. PDT Partners LLC now owns 34,211 shares of the shipping company’s stock valued at $233,000 after buying an additional 10,224 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in StealthGas by 14.8% in the 3rd quarter. Quadrature Capital Ltd now owns 22,799 shares of the shipping company’s stock valued at $155,000 after buying an additional 2,933 shares during the last quarter. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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.