Ardmore Shipping Corp. (NYSE:ASC) shares fell 4.1% 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.

Several research firms have weighed in on ASC. Seaport Global Securities reiterated a “buy” rating and set a $13.00 price objective on shares of Ardmore Shipping Corp. in a research report on Wednesday, May 4th. Jefferies Group restated a “buy” rating on shares of Ardmore Shipping Corp. in a research report on Wednesday. ABN Amro upgraded Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Zacks Investment Research cut Ardmore Shipping Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 10th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $11.00 price target on shares of Ardmore Shipping Corp. in a research report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Ardmore Shipping Corp. has an average rating of “Buy” and an average target price of C$14.25.

The firm’s 50 day moving average is $8.23 and its 200-day moving average is $8.94. The firm has a market cap of $183.98 million and a price-to-earnings ratio of 5.51.

Ardmore Shipping Corp. (NYSE:ASC) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The firm earned $36.10 million during the quarter, compared to analysts’ expectations of $36.46 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. Ardmore Shipping Corp.’s revenue was up 47.0% on a year-over-year basis. On average, equities research analysts predict that Ardmore Shipping Corp. will post $0.96 EPS for the current fiscal year.

Several hedge funds and institutional investors have recently modified their holdings of the stock. LSV Asset Management purchased a new position in shares of Ardmore Shipping Corp. during the fourth quarter worth approximately $3,168,000. Boston Partners boosted its position in shares of Ardmore Shipping Corp. by 6.2% in the fourth quarter. Boston Partners now owns 522,430 shares of the company’s stock worth $6,645,000 after buying an additional 30,602 shares in the last quarter. Royce & Associates LLC boosted its position in shares of Ardmore Shipping Corp. by 27.1% in the fourth quarter. Royce & Associates LLC now owns 1,339,503 shares of the company’s stock worth $17,038,000 after buying an additional 285,628 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of 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 worth $33,339,000 after buying an additional 27,437 shares in the last quarter. Finally, UBS Oconnor LLC boosted its position in shares of Ardmore Shipping Corp. by 276.6% in the fourth quarter. UBS Oconnor LLC now owns 188,281 shares of the company’s stock worth $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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