Ardmore Shipping Corp (NYSE:ASC) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 658,400 shares, a decrease of 25.2% from the April 30th total of 880,800 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 172,300 shares, the short-interest ratio is presently 3.8 days.

A number of research firms recently weighed in on ASC. Zacks Investment Research lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley set a $8.00 target price on shares of Ardmore Shipping and gave the stock a “hold” rating in a report on Thursday, May 2nd. Pareto Securities lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, ValuEngine lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.68.

ASC stock traded up $0.03 during trading on Monday, reaching $6.40. The stock had a trading volume of 6,202 shares, compared to its average volume of 163,451. Ardmore Shipping has a one year low of $4.22 and a one year high of $8.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.56 and a quick ratio of 1.37. The stock has a 50 day moving average price of $7.21. The stock has a market cap of $210.83 million, a P/E ratio of -6.19 and a beta of 1.10.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, May 1st. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Ardmore Shipping had a negative net margin of 21.14% and a negative return on equity of 8.92%. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $33.04 million. During the same period in the prior year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. Equities research analysts anticipate that Ardmore Shipping will post -0.03 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its position in Ardmore Shipping by 46.2% in the 4th quarter. Rhumbline Advisers now owns 46,314 shares of the shipping company’s stock worth $216,000 after purchasing an additional 14,635 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Ardmore Shipping by 4.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,041,010 shares of the shipping company’s stock worth $14,202,000 after purchasing an additional 135,097 shares in the last quarter. BlackRock Inc. lifted its stake in Ardmore Shipping by 18.5% in the 4th quarter. BlackRock Inc. now owns 1,903,432 shares of the shipping company’s stock worth $8,889,000 after purchasing an additional 296,893 shares in the last quarter. Boston Partners lifted its stake in Ardmore Shipping by 46.1% in the 4th quarter. Boston Partners now owns 2,148,566 shares of the shipping company’s stock worth $10,034,000 after purchasing an additional 677,916 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Ardmore Shipping by 14.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock worth $7,850,000 after purchasing an additional 210,973 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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About Ardmore Shipping

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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