Short Interest in Dorian LPG Ltd. (NYSE:LPG) Drops By 21.4%

Dorian LPG Ltd. (NYSE:LPG) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,690,000 shares, a drop of 21.4% from the October 31st total of 2,150,000 shares. Based on an average trading volume of 617,100 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP boosted its position in shares of Dorian LPG by 57.8% during the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after buying an additional 345 shares during the period. GAMMA Investing LLC grew its stake in shares of Dorian LPG by 60.3% in the second quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock worth $44,000 after purchasing an additional 395 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Dorian LPG by 126.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 697 shares during the period. CWM LLC raised its stake in shares of Dorian LPG by 285.4% during the third quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock valued at $71,000 after purchasing an additional 1,524 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Dorian LPG in the second quarter worth about $210,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Price Performance

Shares of NYSE LPG opened at $24.38 on Friday. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $30.64 and a two-hundred day moving average price of $37.26. The firm has a market cap of $1.04 billion, a PE ratio of 4.13 and a beta of 1.00. Dorian LPG has a fifty-two week low of $24.05 and a fifty-two week high of $51.66.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $82.40 million. During the same quarter last year, the business posted $1.85 earnings per share. The firm’s revenue for the quarter was down 43.1% on a year-over-year basis. Sell-side analysts expect that Dorian LPG will post 3.45 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th were paid a $1.00 dividend. The ex-dividend date was Tuesday, November 5th.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and issued a $42.00 target price on shares of Dorian LPG in a research note on Thursday, October 31st.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.