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StealthGas Inc. (GASS) Stock Surged 8.19% Today, Here’s Why

StealthGas Inc. (GASS) stock soared 8.19% in the current-market trading session at the price of $2.44 despite no fundamental updates.

GASS Q4 2021 Earnings Report

On 8th March 2022, GASS announced its financial and operating results for the quarter and year ended 31st December 2021. The stock has cash and cash equivalents of US$32.1M on 31st December 2021. Revenues totaled US$36.1M for Q4 of 2021. It represents a drop of 3.2 percent, or US$1.2M, from revenues of US$37.3M for Q4 of 2020. G&A expenses were US$1.3M and US$0.7M for Q4 of 2021 and 2020, respectively.

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GASS reported a net loss of US$38.7M for Q4 of 2021. Net loss totaled Us$0.7M for Q4 of the previous year. The company has a loss per share of US$1.02 for Q4 of 2021, compared to US$0.02 for the same period of 2020. For Q4 of 2021, EBITDA amounted to a loss of US$27.0M. The company has $2.8M in adjusted net income for Q4 ended 31st December 2021.

GASS Year 2021 Highlights

GASS reported revenues of US$150.2M for the year 2021. It represents a growth of 3.6 percent, or US$5.2M, from revenues of US$145.0M last year. G&A costs totaled US$4.3M and US$2.3M for 2021 and 2020, respectively. The company calculated a net loss of US$35.1M for 2021, compared with a net income of US$12.0M the prior year. Loss per share amounted to US$0.93 for 2021, compared to income per share of US$0.31 for 2020.

Current Market Updates

GASS is a ship-owning corporation operating the LPG segment of the global shipping industry. The company owns a fleet of roughly 44 LPG carriers that includes seven joint venture vessels. It also has one medium gas Carrie that is yet to be delivered by mid of 2023. GASS stock has remained the trending topic in several current research papers. The company is about to be the top enterprise in its business sector as reported by InvestorsObserver.

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