Shares of Ardmore Shipping Corp. (NYSE:ASC) rose 2.8% during trading on Thursday . The company traded as high as $7.49 and last traded at $7.30, with a volume of 189,911 shares. The stock had previously closed at $7.10.

ASC has been the subject of a number of research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $11.00 price target on shares of Ardmore Shipping Corp. in a research note on Wednesday, June 15th. ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Seaport Global Securities restated a “buy” rating and set a $13.00 target price on shares of Ardmore Shipping Corp. in a research report on Wednesday, May 4th. Zacks Investment Research lowered shares of Ardmore Shipping Corp. from a “hold” rating to a “strong sell” rating in a research report on Saturday, June 11th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, April 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Ardmore Shipping Corp. presently has a consensus rating of “Buy” and an average price target of C$14.00.

The stock has a market cap of $187.35 million and a price-to-earnings ratio of 5.61. The firm’s 50-day moving average is $7.67 and its 200 day moving average is $8.62.

Ardmore Shipping Corp. (NYSE:ASC) last announced its quarterly earnings data 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 period in the prior year, the firm earned $0.20 earnings per share. The company had revenue of $36.10 million for the quarter, compared to analysts’ expectations of $36.46 million. The firm’s revenue was up 47.0% compared to the same quarter last year. On average, analysts forecast that Ardmore Shipping Corp. will post $0.87 EPS for the current fiscal year.

Several institutional investors recently made changes to their positions in the stock. 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 valued at $1,468,000 after buying an additional 708 shares during the last quarter. 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 valued at $2,235,000 after buying an additional 116,743 shares during the last quarter. 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 valued at $2,395,000 after buying an additional 138,281 shares during the last quarter. Donald Smith & CO. Inc. raised 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 valued at $33,339,000 after buying an additional 27,437 shares during the last quarter. Finally, Royce & Associates LLC raised 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 valued at $17,038,000 after buying an additional 285,628 shares during the last quarter.

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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