Ardmore Shipping Corporation (NYSE:ASC - Get Free Report)'s stock price crossed 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.
Analysts Set New Price Targets
ASC has been the topic of a number of recent analyst reports. Fearnley Fonds upgraded shares of Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Evercore ISI dropped their target price on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.67.
View Our Latest Stock Analysis on Ardmore Shipping
Ardmore Shipping Stock Performance
The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.36. The stock has a fifty day simple moving average of $9.86 and a two-hundred day simple moving average of $10.39. The firm has a market capitalization of $416.36 million, a P/E ratio of 4.50 and a beta of 0.02.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $74.00 million during the quarter, compared to the consensus estimate of $43.04 million. Ardmore Shipping had a net margin of 26.78% and a return on equity of 14.77%. The business's revenue was down 30.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, research analysts predict that Ardmore Shipping Corporation will post 1.06 EPS for the current year.
Ardmore Shipping Dividend Announcement
The company also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 2.05%. Ardmore Shipping's dividend payout ratio is presently 8.77%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new position in Ardmore Shipping during the first quarter worth $27,000. Signaturefd LLC increased its position in shares of Ardmore Shipping by 63.3% during the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after acquiring an additional 919 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Ardmore Shipping by 302.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock valued at $31,000 after acquiring an additional 1,893 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Ardmore Shipping during the 4th quarter valued at about $36,000. Finally, SBI Securities Co. Ltd. boosted its stake in Ardmore Shipping by 545.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,683 shares of the shipping company's stock valued at $36,000 after purchasing an additional 3,112 shares during the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.
About Ardmore Shipping
(
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.
Further Reading
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