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 |
0.04 0.82% | 4.92 | 5.99 | 4.81 | 1.45 | 0.38 | 1.68 | 3.44 |
| CICOY COSCO SHIPPING Holdings Co Ltd ADR |
0.02 0.25% | 7.88 | 4.54 | 5.81 | 0.15 | 0.79 | 0.54 | 2.00 |
| CICOF COSCO SHIPPING Holdings Co. Ltd |
- -% | 1.63 | 4.65 | 5.66 | 0.14 | 0.78 | 0.54 | 2.02 |
| AMKBF A.P. Møller - Mærsk A/S |
-25.0 1.56% | 1575.00 | 7.17 | 35.46 | 0.51 | 0.47 | 0.70 | 2.73 |
| AMKAF AP Moeller - Maersk A/S A |
- -% | 1569.15 | 6.77 | 33.44 | 0.51 | 0.45 | 0.70 | 2.61 |
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 :
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