Ardmore Shipping Corp. (NYSE:ASC) fell 7% on Thursday . The company traded as low as $6.95 and last traded at $7.08, with a volume of 514,844 shares changing hands. The stock had previously closed at $7.61.

A number of research firms recently weighed in on ASC. Seaport Global Securities restated 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 cut Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 15th. Morgan Stanley cut Ardmore Shipping Corp. from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock. in a research report on Thursday. TheStreet upgraded Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ardmore Shipping Corp. in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$12.63.

The stock has a 50 day moving average of $7.48 and a 200-day moving average of $8.23. The company has a market cap of $239.11 million and a P/E ratio of 6.05.

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, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $39.70 million for the quarter, compared to analysts’ expectations of $32.49 million. The firm’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 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16th will be given a $0.11 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.44 annualized dividend and a yield of 6.16%.

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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