Ardmore Shipping Corp. (NYSE:ASC) saw unusually-high trading volume on Friday . Approximately 1,383,359 shares were traded during trading, an increase of 171% from the previous session’s volume of 510,276 shares.The stock last traded at $7.03 and had previously closed at $6.96.

ASC has been the topic of several recent analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $11.00 price objective on shares of Ardmore Shipping Corp. in a research report on Wednesday, June 15th. Seaport Global Securities reissued a “buy” rating and set a $13.00 price objective on shares of Ardmore Shipping Corp. in a research report on Wednesday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of Ardmore Shipping Corp. from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. Jefferies Group cut their price objective on shares of Ardmore Shipping Corp. from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, ABN Amro raised shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of C$13.29.

The company has a market cap of $182.17 million and a PE ratio of 5.45. The stock’s 50 day moving average price is $7.35 and its 200 day moving average price is $8.46.

Ardmore Shipping Corp. (NYSE:ASC) last released its quarterly earnings data 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 company earned $36.10 million during the quarter, compared to analysts’ expectations of $36.46 million. Ardmore Shipping Corp.’s quarterly revenue was up 47.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. On average, analysts forecast that Ardmore Shipping Corp. will post $0.84 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in ASC. I.G. Investment Management LTD. increased its stake in 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. Boston Partners increased 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. 1492 Capital Management LLC increased 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 in the last quarter. UBS Oconnor LLC increased 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. Finally, Royce & Associates LLC increased 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.

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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