Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.39 and traded as low as $10.06. Ardmore Shipping shares last traded at $10.25, with a volume of 286,093 shares changing hands.
Wall Street Analyst Weigh In
A number of research analysts recently commented on ASC shares. Evercore ISI decreased their price objective on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.67.
Read Our Latest Analysis on ASC
Ardmore Shipping Stock Up 1.5%
The business has a 50-day moving average price of $9.88 and a two-hundred day moving average price of $10.37. The company has a quick ratio of 3.36, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The firm has a market cap of $422.45 million, a PE ratio of 4.56 and a beta of 0.02.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a return on equity of 14.77% and a net margin of 26.78%. The company had revenue of $74.00 million for the quarter, compared to analysts' expectations of $43.04 million. During the same period in the prior year, the company posted $0.92 EPS. The firm's revenue was down 30.4% compared to the same quarter last year. On average, equities research analysts expect that Ardmore Shipping Corporation will post 1.06 EPS for the current year.
Ardmore Shipping Announces Dividend
The company also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 2.05%. Ardmore Shipping's payout ratio is currently 8.77%.
Hedge Funds Weigh In On Ardmore Shipping
Several large investors have recently bought and sold shares of ASC. Bank of New York Mellon Corp boosted its stake in Ardmore Shipping by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 102,368 shares of the shipping company's stock valued at $1,244,000 after acquiring an additional 3,034 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ardmore Shipping by 21.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,097 shares of the shipping company's stock worth $1,471,000 after buying an additional 21,708 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ardmore Shipping by 255.4% during the fourth quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company's stock worth $5,659,000 after buying an additional 334,704 shares during the period. Larson Financial Group LLC boosted its stake in shares of Ardmore Shipping by 228.1% during the fourth quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company's stock worth $60,000 after buying an additional 3,422 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Ardmore Shipping by 66.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,899 shares of the shipping company's stock worth $351,000 after buying an additional 11,514 shares during the period. Institutional investors and hedge funds own 62.22% of the company's stock.
Ardmore Shipping Company Profile
(
Get Free Report)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
See Also
Before you consider Ardmore Shipping, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardmore Shipping wasn't on the list.
While Ardmore Shipping currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
