Ardmore Shipping Corp. (NYSE:ASC)’s share price was up 3.7% on Wednesday . The company traded as high as $7.34 and last traded at $7.33, with a volume of 178,397 shares traded. The stock had previously closed at $7.07.

A number of equities analysts have recently weighed in on ASC shares. Morgan Stanley cut shares of Ardmore Shipping Corp. from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a research note on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Tuesday, August 16th. ABN Amro raised shares of Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Jefferies Group lowered 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, July 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Ardmore Shipping Corp. has an average rating of “Buy” and an average price target of C$12.63.

The stock has a market cap of $234.09 million and a P/E ratio of 5.92. The stock has a 50 day moving average of $7.48 and a 200-day moving average of $8.22.

Ardmore Shipping Corp. (NYSE:ASC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) 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. Equities analysts predict that Ardmore Shipping Corp. will post $0.78 earnings per share for the current fiscal year.

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