Ardmore Shipping Corp. (NYSE:ASC) dropped 3.5% during mid-day trading on Thursday . The company traded as low as $6.90 and last traded at $6.97, with a volume of 213,623 shares trading hands. The stock had previously closed at $7.22.

A number of equities research analysts recently weighed in on the stock. Seaport Global Securities restated a “buy” rating and set a $13.00 price objective on shares of Ardmore Shipping Corp. in a research note on Wednesday, May 4th. Zacks Investment Research cut shares of Ardmore Shipping Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 10th. Deutsche Bank AG restated a “buy” rating and set a $11.00 price objective 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 note on Thursday, June 30th. Finally, Jefferies Group restated a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$12.63.

The stock has a market cap of $234.09 million and a PE ratio of 5.92. The stock has a 50-day moving average price of $7.48 and a 200-day moving average price of $8.23.

Ardmore Shipping Corp. (NYSE:ASC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company earned $39.70 million during the quarter, compared to the consensus estimate of $32.49 million. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ardmore Shipping Corp. will post $0.78 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date was Friday, August 12th.

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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