Ardmore Shipping Corporation (NYSE:ASC) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d” rating in a report issued on Wednesday, May 24th.
A number of other analysts have also recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research report on Monday, April 24th. Zacks Investment Research cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. Finally, ABN Amro upgraded Ardmore Shipping Corporation from a “hold” rating to a “buy” rating and set a $11.50 price objective for the company in a research report on Monday, March 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.83.
Shares of Ardmore Shipping Corporation (NYSE:ASC) traded down 0.63% during trading on Wednesday, hitting $7.85. 105,170 shares of the company were exchanged. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.55. The firm’s market capitalization is $263.56 million. The firm’s 50-day moving average price is $7.60 and its 200 day moving average price is $7.43.
Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings data on Wednesday, May 3rd. The shipping company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $49.67 million during the quarter, compared to analysts’ expectations of $30.75 million. Ardmore Shipping Corporation had a negative return on equity of 0.60% and a negative net margin of 3.03%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, equities research analysts expect that Ardmore Shipping Corporation will post ($0.05) earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Van Den Berg Management I Inc. raised its stake in shares of Ardmore Shipping Corporation by 149.7% in the first quarter. Van Den Berg Management I Inc. now owns 879,941 shares of the shipping company’s stock worth $7,084,000 after buying an additional 527,488 shares during the last quarter. Signia Capital Management LLC raised its stake in shares of Ardmore Shipping Corporation by 122.5% in the first quarter. Signia Capital Management LLC now owns 746,206 shares of the shipping company’s stock worth $6,007,000 after buying an additional 410,766 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Ardmore Shipping Corporation during the first quarter worth about $2,064,000. Russell Investments Group Ltd. acquired a new stake in shares of Ardmore Shipping Corporation during the fourth quarter worth about $1,798,000. Finally, Royce & Associates LP raised its stake in shares of Ardmore Shipping Corporation by 19.9% in the fourth quarter. Royce & Associates LP now owns 1,452,175 shares of the shipping company’s stock worth $10,746,000 after buying an additional 240,900 shares during the last quarter. 76.29% of the stock is currently owned by hedge funds and other institutional investors.
About Ardmore Shipping Corporation
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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