Ardmore Shipping Corp. (ASC) Sees Unusually-High Trading Volume
Ardmore Shipping Corp. (NYSE:ASC) shares saw unusually-strong trading volume on Friday . Approximately 1,383,359 shares changed hands 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.
A number of research analysts recently issued reports on ASC shares. Deutsche Bank AG restated a “buy” rating and set a $11.00 price objective on shares of Ardmore Shipping Corp. in a report on Wednesday, June 15th. ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Seaport Global Securities reaffirmed a “buy” rating and issued a $13.00 price target on shares of Ardmore Shipping Corp. in a research note 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 note on Saturday, June 11th. Finally, Jefferies Group cut their price target on shares of Ardmore Shipping Corp. from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. 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 company. The company has an average rating of “Buy” and a consensus price target of C$13.29.
The firm has a market cap of $182.17 million and a price-to-earnings ratio of 5.45. The company has a 50 day moving average price of $7.35 and a 200 day moving average price of $8.46.
Ardmore Shipping Corp. (NYSE:ASC) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $36.10 million for the quarter, compared to analyst estimates of $36.46 million. Ardmore Shipping Corp.’s revenue was up 47.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. On average, equities research analysts forecast that Ardmore Shipping Corp. will post $0.84 EPS for the current year.
A number of hedge funds and institutional investors have modified their holdings of ASC. 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 increased its stake in 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 stake in 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. Boston Partners increased its stake in 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. Finally, Royce & Associates LLC increased its stake 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 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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