The stock of StealthGas Inc. (NASDAQ:GASS) is now priced at $2.46 and the shares are -0.02 points down or -0.81% lower compared to its previous closing price of $2.48. The stock had 103068 contracts set over the past session. GASS shares’ daily volume is compared to its average trading volume at 51823 shares. However, it has a float of 31.45 million and although its performance was 8.3% over the week, it’s one to watch. Analysts have given the GASS stock a yearly average price target of $4 per share. It means the stock’s upside potential is 62.6% with the GASS share price recently placing at $2.48 to $2.5575. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the StealthGas Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the GASS shares have declined. Short interest in the stock represents just 0.03% of its float, but the volume has dropped by -2150. The volume of shorted shares dropped to 10551 from 12701 shares over the last two weeks. The average intraday trading volume has been 28222 shares, which means that days to cover moved to roughly 1.
In the last trading session, StealthGas Inc. (NASDAQ:GASS) dropped by -$0.04 over the week and lost -$0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.18. The stock recorded its established 52-week high on 07/26/19.
Since 03/18/20, the stock has traded to a low of $1.51 at 62.91%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.73. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, StealthGas Inc.’s two-week RSI is 44.84. This suggests that the stock is neutral at the moment and that GASS shares’ price movement remains stable. The stochastic readings are equally revealing at 34.93% meaning the GASS share price is currently in neutral territory.
The technical chart shows that the GASS stock will likely settle at between $2.53 and $2.58 per share. However, if the stock dips below $2.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.43.
Currently, the stock is trading in the red of MACD, with a reading of -0.05. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned GASS a rating of Buy in their intiating review released on October 25. Singular Research analysts see the stock as a Buy with a target price of $7 in a flash note released to investors on April 29 initiating covering the stock. Barclays seeing the stock struggling downgraded it from Overweight to Equal Weight on January 11 placing it at $8 to $5.
The average rating for the GASS equity is 1 and is currently gathering a bullish momentum. Of 1 analysts tracking StealthGas Inc. polled by Reuters, 0 rated GASS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GASS stock price is 3.94X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for StealthGas Inc. (NASDAQ:GASS) will decrease by about -99.91%, which will see them reach $31 million. The company’s full-year revenues are, however, expected to increase by about 4.73%, up from $121 million to $126.72 million. GASS’s expected adjusted earnings should surge almost 100% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 36.36% to record $0.15/share.