According to MANA, at the end of trading on Wednesday shares in the John Hadjipateras-led shipowner closed at $10.50 each, up $1 on the day.
Reports say some 336,348 shares changed hands during the day, versus an average daily volume of 219,347 shares out of a total float of 54.9m.
Shares in the company have more than doubled since it hit a 52 week low of $5.07 per share at the beginning of September 2016.
The Stamford-based shipowner is set to report its third quarter earnings in early February 2017.
Dorian LPG owns a fleet of 22 VLGCs, including 19 84,000-cbm eco-design VLGCs and three 82,000-cbm VLGCs.
Before the start of trading analysts at DNB Bank said Dorian LPG’s share price implied VLGC resale prices of $60m, a .discount to fair market values of $65m
The Oslo-based bank forecasts that VLGC resale prices are set to reach newbuild parity by 2018 on an improved supply/demand balance.
As a result it contends that there could be a further 36% upside to Dorian LPG’s share price based on newbuild parity and a price-to-net asset valuation (P/NAV) of one.
DNB said it was reiterating its ‘buy’ recommendation for the stock, and raised its target price $11.4 per share from $8.4.