Long Position on LPG @ $44.00 on 11/28/2023 (Momentum)

Dorian LPG Ltd. (LPG), together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide.

It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

Dorian LPG reported earnings of $1.85 per share on revenue of $144.70 million for the fiscal second quarter ended September 2023. The consensus earnings estimate was $1.73 per share on revenue of $148.94 million. The company missed expectations by 11.90% while revenue grew 90.47% on a year-over-year basis.

Dorian LPG Ltd is LPG shipping company engaged in owning and operating liquified petroleum gas tankers.

Given the short-term price increase, the stock's momentum should drive share prices higher.

Entry Point: $44.00

Trading Range: $15.81 - $44.33

Stop Loss: $41.80

Target Price: $48.00

Position closed on 12/8/2023 at price of $41.80 with a -5.00% loss in 10 days.

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