Dorian LPG Ltd (NYSE:LPG) Short Interest Up 46.6% in August

Dorian LPG Ltd (NYSE:LPG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 647,600 shares, an increase of 46.6% from the July 31st total of 441,600 shares. Based on an average daily trading volume, of 447,100 shares, the short-interest ratio is currently 1.4 days. Currently, 1.6% of the company’s stock are sold short.

LPG traded up $0.11 on Friday, hitting $10.59. The company’s stock had a trading volume of 224,727 shares, compared to its average volume of 295,893. The company’s 50 day simple moving average is $9.66 and its 200-day simple moving average is $8.15. The firm has a market cap of $568.26 million, a P/E ratio of -13.41 and a beta of 1.13. Dorian LPG has a 12 month low of $5.26 and a 12 month high of $11.16. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.67.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.09. The company had revenue of $61.17 million during the quarter, compared to the consensus estimate of $56.10 million. Dorian LPG had a negative net margin of 12.67% and a negative return on equity of 0.94%. Equities analysts predict that Dorian LPG will post 1.49 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on LPG. TheStreet upgraded shares of Dorian LPG from a “d+” rating to a “c” rating in a research note on Monday, August 26th. Wells Fargo & Co upgraded shares of Dorian LPG from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $8.00 to $15.00 in a research note on Thursday, July 25th. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. ValuEngine lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Zacks Investment Research upgraded shares of Dorian LPG from a “strong sell” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $13.00.

In other news, CFO Theodore B. Young sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $9.36, for a total transaction of $42,120.00. Following the completion of the sale, the chief financial officer now owns 122,253 shares in the company, valued at approximately $1,144,288.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Group Ltd Bw sold 422,517 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $8.83, for a total transaction of $3,730,825.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,884,028 shares of company stock valued at $18,056,194. Company insiders own 26.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPG. Bank of America Corp DE boosted its holdings in Dorian LPG by 56.1% in the 4th quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock worth $115,000 after buying an additional 7,082 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Dorian LPG by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,177,510 shares of the shipping company’s stock valued at $18,525,000 after purchasing an additional 164,524 shares during the period. Deutsche Bank AG boosted its holdings in Dorian LPG by 22.2% in the 4th quarter. Deutsche Bank AG now owns 70,772 shares of the shipping company’s stock valued at $411,000 after purchasing an additional 12,868 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Dorian LPG by 97.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,103 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 3,007 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Dorian LPG by 3.3% in the 1st quarter. Rhumbline Advisers now owns 40,409 shares of the shipping company’s stock valued at $259,000 after purchasing an additional 1,300 shares during the period. 56.29% of the stock is owned by institutional investors.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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