Ardmore Shipping Corp. (NYSE:ASC)’s share price dropped 1.2% during mid-day trading on Monday . The stock traded as low as $6.99 and last traded at $7.14, with a volume of 237,116 shares trading hands. The stock had previously closed at $7.23.

ASC has been the subject of several analyst reports. ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Jefferies Group reissued a “buy” rating on shares of Ardmore Shipping Corp. in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Ardmore Shipping Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, April 4th. Seaport Global Securities reissued a “buy” rating and issued a $13.00 price target on shares of Ardmore Shipping Corp. in a report on Wednesday, May 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $11.00 price target on shares of Ardmore Shipping Corp. in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of C$14.00.

The company has a market capitalization of $179.32 million and a P/E ratio of 5.37. The company has a 50 day moving average of $7.86 and a 200 day moving average of $8.68.

Ardmore Shipping Corp. (NYSE:ASC) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.01. During the same quarter in the prior year, the company earned $0.20 EPS. The business had revenue of $36.10 million for the quarter, compared to the consensus estimate of $36.46 million. The firm’s revenue was up 47.0% compared to the same quarter last year. On average, equities research analysts expect that Ardmore Shipping Corp. will post $0.94 earnings per share for the current year.

Other institutional investors have made changes to their positions in the company. I.G. Investment Management LTD. raised its position in shares of Ardmore Shipping Corp. by 0.6% in the fourth quarter. I.G. Investment Management LTD. now owns 115,396 shares of the company’s stock worth $1,468,000 after buying an additional 708 shares during the period. 1492 Capital Management LLC raised its position in shares of Ardmore Shipping Corp. by 198.0% in the fourth quarter. 1492 Capital Management LLC now owns 175,712 shares of the company’s stock worth $2,235,000 after buying an additional 116,743 shares during the period. UBS Oconnor LLC raised 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 during the period. LSV Asset Management acquired a new position in shares of Ardmore Shipping Corp. during the fourth quarter worth about $3,168,000. Finally, Boston Partners raised 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 during the period.

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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