BidaskClub upgraded shares of Ardmore Shipping Corporation (NYSE:ASC) from a strong sell rating to a sell rating in a report issued on Friday.

A number of other equities analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and issued a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Ardmore Shipping Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. TheStreet lowered shares of Ardmore Shipping Corporation from a c- rating to a d rating in a report on Wednesday, May 24th. ValuEngine lowered shares of Ardmore Shipping Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus restated a buy rating and issued a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $9.88.

Shares of Ardmore Shipping Corporation (ASC) opened at 7.30 on Friday. The company’s 50 day moving average price is $7.77 and its 200-day moving average price 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 capitalization is $245.10 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, hitting 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 company had revenue of $49.85 million during the quarter, compared to analyst estimates of $31.73 million. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. Equities analysts predict that Ardmore Shipping Corporation will post ($0.16) earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Ardmore Shipping Corporation during the first quarter worth $103,000. Voya Investment Management LLC raised its stake in shares of Ardmore Shipping Corporation by 32.4% in the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock worth $120,000 after buying an additional 3,614 shares in the last quarter. American International Group Inc. raised its stake in shares of Ardmore Shipping Corporation by 33.3% in the first quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock worth $135,000 after buying an additional 4,177 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Ardmore Shipping Corporation during the first quarter worth $146,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Ardmore Shipping Corporation during the second quarter worth $155,000. Institutional investors and hedge funds own 76.35% of the company’s stock.

Ardmore Shipping Corporation Company Profile

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.

Analyst Recommendations for Ardmore Shipping Corporation (NYSE:ASC)

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