Ardmore Shipping Corp. (NYSE:ASC)’s share price traded down 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 traded. The stock had previously closed at $7.22.

A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 15th. TheStreet upgraded Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. 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 note on Thursday, August 25th. ABN Amro upgraded Ardmore Shipping Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Stifel Nicolaus restated 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 issued a buy rating to the company’s stock. Ardmore Shipping Corp. presently has an average rating of “Buy” and a consensus price target of C$12.63.

The company has a 50 day moving average price of $7.47 and a 200-day moving average price of $8.21. The firm has a market cap of $237.44 million and a P/E ratio of 6.00.

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 the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $39.70 million for the quarter, compared to analysts’ expectations of $32.49 million. Ardmore Shipping Corp.’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Ardmore Shipping Corp. will post $0.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, August 12th. This represents a $0.44 annualized dividend and a dividend yield of 6.21%.

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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