Zacks Investment Research downgraded shares of Ardmore Shipping Corp (NYSE:ASC) from a hold rating to a sell rating in a research note issued to investors on Tuesday, July 11th.

According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “

Several other analysts have also recently commented on the company. Stifel Nicolaus restated a buy rating and issued a $10.00 price target on shares of Ardmore Shipping Corp in a report on Friday, July 7th. BidaskClub cut Ardmore Shipping Corp from a buy rating to a hold rating in a report on Saturday, July 8th. Jefferies Group LLC restated a buy rating and issued a $10.00 price target on shares of Ardmore Shipping Corp in a report on Tuesday, July 4th. ValuEngine upgraded Ardmore Shipping Corp from a sell rating to a hold rating in a report on Tuesday, June 27th. Finally, TheStreet lowered Ardmore Shipping Corp from a c- rating to a d rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $9.88.

Shares of Ardmore Shipping Corp (NYSE:ASC) opened at 7.70 on Tuesday. The company’s market cap is $258.53 million. The stock has a 50 day moving average of $7.97 and a 200 day moving average of $7.59. Ardmore Shipping Corp has a 12-month low of $5.00 and a 12-month high of $8.75.

Ardmore Shipping Corp (NYSE:ASC) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $49.85 million during the quarter, compared to analysts’ expectations of $31.73 million. Ardmore Shipping Corp had a negative return on equity of 2.16% and a negative net margin of 4.36%. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Equities research analysts predict that Ardmore Shipping Corp will post ($0.13) earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in ASC. Acadian Asset Management LLC bought a new position in Ardmore Shipping Corp during the first quarter valued at approximately $103,000. American International Group Inc. raised its position in Ardmore Shipping Corp by 33.3% in the first quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock valued at $135,000 after buying an additional 4,177 shares during the period. Highbridge Capital Management LLC bought a new position in Ardmore Shipping Corp during the first quarter valued at approximately $146,000. Nationwide Fund Advisors raised its position in Ardmore Shipping Corp by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock valued at $164,000 after buying an additional 2,792 shares during the period. Finally, Teachers Advisors LLC raised its position in Ardmore Shipping Corp by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 61,240 shares of the shipping company’s stock valued at $453,000 after buying an additional 20,802 shares during the period. 76.52% of the stock is currently owned by hedge funds and other institutional investors.

About Ardmore Shipping Corp

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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