Highbridge Capital Management LLC bought a new position in shares of Ardmore Shipping Corporation (NYSE:ASC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,172 shares of the shipping company’s stock, valued at approximately $146,000. Highbridge Capital Management LLC owned about 0.05% of Ardmore Shipping Corporation as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ASC. Russell Investments Group Ltd. acquired a new position in shares of Ardmore Shipping Corporation during the fourth quarter valued at $1,798,000. Royce & Associates LP increased its position in shares of Ardmore Shipping Corporation by 7.8% in the first quarter. Royce & Associates LP now owns 1,565,675 shares of the shipping company’s stock valued at $12,604,000 after buying an additional 113,500 shares during the period. Schneider Capital Management Corp increased its position in shares of Ardmore Shipping Corporation by 16.9% in the first quarter. Schneider Capital Management Corp now owns 535,745 shares of the shipping company’s stock valued at $4,313,000 after buying an additional 77,591 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of Ardmore Shipping Corporation by 4.1% in the first quarter. Paradigm Capital Management Inc. NY now owns 127,100 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 5,000 shares during the period. Finally, Van Den Berg Management I Inc. increased its position in shares of Ardmore Shipping Corporation by 149.7% in the first quarter. Van Den Berg Management I Inc. now owns 879,941 shares of the shipping company’s stock valued at $7,084,000 after buying an additional 527,488 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.

Shares of Ardmore Shipping Corporation (ASC) traded down 1.99% during trading on Tuesday, hitting $7.40. The stock had a trading volume of 98,365 shares. The stock’s 50-day moving average is $7.98 and its 200-day moving average is $7.59. Ardmore Shipping Corporation has a 12-month low of $5.00 and a 12-month high of $8.75. The stock’s market cap is $248.46 million.

Ardmore Shipping Corporation (NYSE:ASC) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The business had revenue of $49.85 million during the quarter, compared to the consensus estimate of $31.73 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. On average, equities research analysts expect that Ardmore Shipping Corporation will post ($0.12) EPS for the current year.

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Several research analysts recently weighed in on the company. BidaskClub downgraded Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research report on Friday, July 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research report on Tuesday, July 4th. Finally, ValuEngine raised Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.88.

About Ardmore Shipping Corporation

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.

Institutional Ownership by Quarter for Ardmore Shipping Corporation (NYSE:ASC)

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