Shares of Ardmore Shipping Corp. (NYSE:ASC) dropped 4.1% during trading on Thursday . The stock traded as low as $6.74 and last traded at $6.76, with a volume of 292,078 shares traded. The stock had previously closed at $7.05.

ASC has been the subject of several recent analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $11.00 target price on shares of Ardmore Shipping Corp. in a research note on Wednesday, June 15th. Seaport Global Securities restated a “buy” rating and issued a $13.00 target price on shares of Ardmore Shipping Corp. in a research note on Wednesday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of Ardmore Shipping Corp. from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. Jefferies Group restated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Wednesday. Finally, ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Ardmore Shipping Corp. has a consensus rating of “Buy” and a consensus price target of C$14.25.

The firm has a market capitalization of $174.14 million and a PE ratio of 5.21. The firm’s 50-day moving average is $8.36 and its 200-day moving average is $8.99.

Ardmore Shipping Corp. (NYSE:ASC) last released its earnings results on Wednesday, May 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.01. The business had revenue of $36.10 million for the quarter, compared to analysts’ expectations of $36.46 million. During the same period last year, the firm posted $0.20 EPS. Ardmore Shipping Corp.’s revenue was up 47.0% compared to the same quarter last year. Analysts anticipate that Ardmore Shipping Corp. will post $0.99 earnings per share for the current fiscal year.

A number of hedge funds have added to or reduced their stakes in ASC. LSV Asset Management acquired a new stake in Ardmore Shipping Corp. during the fourth quarter valued at $3,168,000. Boston Partners raised its position in Ardmore Shipping Corp. by 6.2% in the fourth quarter. Boston Partners now owns 522,430 shares of the company’s stock valued at $6,645,000 after buying an additional 30,602 shares in the last quarter. Royce & Associates LLC raised its position in Ardmore Shipping Corp. by 27.1% in the fourth quarter. Royce & Associates LLC now owns 1,339,503 shares of the company’s stock valued at $17,038,000 after buying an additional 285,628 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Ardmore Shipping Corp. by 1.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,620,958 shares of the company’s stock valued at $33,339,000 after buying an additional 27,437 shares in the last quarter. Finally, UBS Oconnor LLC raised its position in Ardmore Shipping Corp. by 276.6% in the fourth quarter. UBS Oconnor LLC now owns 188,281 shares of the company’s stock valued at $2,395,000 after buying an additional 138,281 shares in the last quarter.

Ardmore Shipping Corporation (Ardmore) provides seaborne transportation of petroleum products and chemicals to oil companies, national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. As of December 31, 2014, Ardmore had 14 vessels in operation and 10 vessels under construction.

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