Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 29 Aug, 24 | GASS | Buy | USD 5.9 | USD 6.4 | USD 6.9 | 7 days | 16.9% |
Data Powered by EOD Historical Data (“EODHD”).
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. It offers crude oil and natural gas. The company operates a fleet of 33 LPG carries, including six JV vessels. StealthGas Inc. was incorporated in 2004 and is based in Athens, Greece.
Strong Contracted Revenue: USD 180 million in contracted revenues secured for the remainder of 2024
Increasing Profits: All-time high net income of USD 17.7 million in Q1 2024, compared to USD 16.8 mn in Q1 FY23
Higher Administrative Costs: General and administrative expenses increased by USD 1.4 million, partly due to stock-based compensation
Interest Income Decline: Interest income decreased to USD 0.8 million from USD 1.0 million
Charter Rate Volatility, Dependence on Key Customers, Fleet Age and Maintenance, Market Demand Fluctuations, etc
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 5.9 | 4.9 | 6.4 | 6.9 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Technical Commentary:
The Relative Strength Index (RSI) for a 14-day period is currently at 40.01, indicating an upward trend. There is an expectation of a bullish divergence if the resistance level at USD 6.50 is surpassed. Presently, the stock price is inside the support levels between USD 5.50 and USD 6.00. Should these support levels hold, an upward momentum may emerge, potentially leading to higher resistance levels. Furthermore, the stock's current position is below both the 50-Day Simple Moving Average (SMA) and the 200-Day SMA. These moving averages are likely to serve as short- to medium-term resistance levels. The interplay of these factors suggests that a breakout above the resistance at USD 6.50 could signal a more sustained upward trend, provided the support levels continue to hold.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Industrials Industry: Marine Shipping
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| GASS StealthGas Inc |
-0.07 1.02% | 6.80 | 5.99 | 4.81 | 1.45 | 0.38 | 1.68 | 3.44 |
| AMKBF A.P. Møller - Mærsk A/S |
- -% | 1488.70 | 3.48 | 9.03 | 0.48 | 0.53 | 0.36 | 3.33 |
| AMKAF AP Moeller - Maersk A/S A |
- -% | 1400.50 | 3.53 | 8.73 | 0.48 | 0.52 | 0.37 | 3.46 |
| AMKBY AP Moeller-Maersk AS |
-0.11 1.49% | 7.26 | 3.41 | 8.71 | 0.51 | 0.52 | 0.37 | 3.46 |
| HPGLY Hapag-Lloyd Aktiengesellschaft |
- -% | 78.30 | 3.79 | - | 1.21 | 1.23 | 1.05 | 2.64 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a medium to long-term duration. Recommendations provided in this report are based on financial as well as technical parameter in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
This report has been issued by StockNextt which has an Ontario Business Identification Number 1000958347 and British Columbia registration Number FM1051529 is a trade name under Kalkine Canada Advisory Services Inc. having Business Number 761925130BC0001. Kalkine Canada Advisory Services Inc. and StockNextt are collectively referred to as “StockNextt”, “we”, “us”, and “our”. The website https://stocknextt.com and associated pages are published by StockNextt. The information in this report and on the StockNextt website has been prepared from a wide variety of sources, which StockNextt, to the best of its knowledge and belief, considers accurate. StcokNextt has made every effort to ensure the reliability of information contained in its reports, newsletters, and websites. All information represents our views at the date of publication and may change without notice. The information in this report does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products. Our reports contain general recommendations for investing in securities and other financial products. StockNextt does not offer financial advice based upon your personal financial situation or goals, and we shall not be held liable for any investment or trading losses you may incur by using the opinions expressed in our reports, publications, market updates, news alerts and corporate profiles. StockNextt does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. StockNextt’s general advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested. Please also read our Terms and conditions for further information. Employees and/or associates of StockNextt and its related entities may hold an interest in the securities or other financial products covered in this report or on the StockNextt website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Copyright © 2023 Krish Capital Pty Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.
