Out of the Gate: StealthGas shares rally

By Associated Press
October 9, 2008 | Comments (0)

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Shares of Greek energy shipping company StealthGas Inc. rallied Thursday morning, and an analyst called the current share price a strong buying opportunity following a 25 percent plunge Wednesday.

The stock jumped 66 cents, or 10.7 percent, to $6.86 in morning trading. The stock has ranged from $6.09 to $18.22 over the past year.

Morgan Keegan analyst J. Michael Drickamer said yesterday's closing price of $6.20 represents an "attractive entry point" for investors, and that the company's dividend is likely safe.

Drickamer cited speculation that Wednesday's sharp decline in stock price was connected to selling resulting from a departing portfolio manager at one of the company's largest shareholders.

He rates the company as "Outperform."

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11/9/2009 12:57 PM
GASS $6.49 Up +0.06 +0.93%
StealthGas, Inc. CAPS Rating: *****

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