Ardmore Shipping Corp. (NYSE:ASC) shares fell 3.2% during mid-day trading on Thursday . The company traded as low as $7.70 and last traded at $7.83, with a volume of 347,776 shares changing hands. The stock had previously closed at $8.09.

A number of research firms have recently issued reports on ASC. Stifel Nicolaus reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Wednesday. TheStreet upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Group dropped their price objective on shares of Ardmore Shipping Corp. from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. ABN Amro upgraded shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $11.00 price objective on shares of Ardmore Shipping Corp. in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Ardmore Shipping Corp. has an average rating of “Buy” and a consensus target price of C$13.29.

The firm has a market capitalization of $260.21 million and a P/E ratio of 6.58. The company’s 50 day moving average is $7.25 and its 200 day moving average is $8.40.

Ardmore Shipping Corp. (NYSE:ASC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $39.70 million for the quarter, compared to analyst estimates of $32.49 million. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Ardmore Shipping Corp. will post $0.80 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 5.66%.

Other hedge funds have recently bought and sold shares of the company. I.G. Investment Management LTD. raised 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 in the last quarter. 1492 Capital Management LLC raised 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 valued at $2,235,000 after buying an additional 116,743 shares in the last quarter. UBS Oconnor LLC raised 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 valued at $2,395,000 after buying an additional 138,281 shares in the last quarter. Boston Partners raised 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 valued at $6,645,000 after buying an additional 30,602 shares in the last quarter. Finally, Royce & Associates LLC raised 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 valued at $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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