Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.95 and traded as low as $9.95. Ardmore Shipping shares last traded at $10.25, with a volume of 629,357 shares trading hands.
Analysts Set New Price Targets
ASC has been the subject of several recent analyst reports. Evercore ISI reduced their price target on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.67.
Check Out Our Latest Stock Analysis on Ardmore Shipping
Ardmore Shipping Stock Up 2.5%
The stock has a market capitalization of $408.96 million, a PE ratio of 4.42 and a beta of 0.02. The firm has a 50 day moving average of $9.95 and a two-hundred day moving average of $10.30. The company has a current ratio of 3.73, a quick ratio of 3.36 and a debt-to-equity ratio of 0.03.
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). Ardmore Shipping had a net margin of 26.78% and a return on equity of 14.77%. The firm had revenue of $74.00 million during the quarter, compared to analysts' expectations of $43.04 million. During the same period in the previous year, the business earned $0.92 earnings per share. The business's revenue for the quarter was down 30.4% on a year-over-year basis. Equities research analysts anticipate that Ardmore Shipping Corporation will post 1.06 earnings per share for the current year.
Ardmore Shipping Dividend Announcement
The company also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.05 dividend. This represents a yield of 2.05%. The ex-dividend date of this dividend was Friday, May 30th. Ardmore Shipping's payout ratio is currently 8.77%.
Hedge Funds Weigh In On Ardmore Shipping
Several hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its position in Ardmore Shipping by 12.1% during the second quarter. Janney Montgomery Scott LLC now owns 45,093 shares of the shipping company's stock worth $433,000 after buying an additional 4,862 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Ardmore Shipping by 3.9% during the second quarter. SummerHaven Investment Management LLC now owns 40,720 shares of the shipping company's stock worth $391,000 after buying an additional 1,518 shares in the last quarter. GAMMA Investing LLC increased its position in Ardmore Shipping by 288.1% during the second quarter. GAMMA Investing LLC now owns 6,310 shares of the shipping company's stock worth $61,000 after buying an additional 4,684 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Ardmore Shipping by 15.6% during the second quarter. Wedge Capital Management L L P NC now owns 158,989 shares of the shipping company's stock worth $1,526,000 after buying an additional 21,505 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Ardmore Shipping during the second quarter worth $21,019,000. Hedge funds and other institutional investors own 62.22% of the company's stock.
Ardmore Shipping Company Profile
(
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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.
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