Free Trial

Ardmore Shipping Co. (NYSE:ASC) Sees Significant Growth in Short Interest

Ardmore Shipping logo with Transportation background

Ardmore Shipping Co. (NYSE:ASC - Get Free Report) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,440,000 shares, a growth of 47.9% from the May 15th total of 1,650,000 shares. Based on an average daily trading volume, of 653,900 shares, the short-interest ratio is presently 3.7 days.

Institutional Investors Weigh In On Ardmore Shipping

Several large investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in Ardmore Shipping during the 1st quarter worth approximately $54,000. Quadrant Capital Group LLC lifted its holdings in shares of Ardmore Shipping by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company's stock worth $62,000 after purchasing an additional 2,042 shares during the period. Daiwa Securities Group Inc. purchased a new position in Ardmore Shipping in the 1st quarter valued at $108,000. MJP Associates Inc. ADV purchased a new position in Ardmore Shipping during the 4th quarter worth $141,000. Finally, Advisor OS LLC acquired a new stake in shares of Ardmore Shipping in the 4th quarter worth $141,000. 62.22% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Stock Down 3.3 %

ASC traded down $0.71 on Friday, reaching $20.79. The company's stock had a trading volume of 872,495 shares, compared to its average volume of 745,725. The company has a market capitalization of $844.70 million, a price-to-earnings ratio of 7.97 and a beta of 0.43. Ardmore Shipping has a fifty-two week low of $11.59 and a fifty-two week high of $23.44. The company has a quick ratio of 1.79, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $19.64 and a two-hundred day moving average of $16.96.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.87 by $0.05. Ardmore Shipping had a net margin of 29.15% and a return on equity of 21.06%. The firm had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. During the same period last year, the business earned $1.04 EPS. Ardmore Shipping's revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Ardmore Shipping will post 3.25 EPS for the current fiscal year.

Ardmore Shipping Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a yield of 5.96%. This is a boost from Ardmore Shipping's previous quarterly dividend of $0.21. Ardmore Shipping's payout ratio is currently 47.51%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Ardmore Shipping from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on Ardmore Shipping from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. Finally, raised shares of Ardmore Shipping from a "hold" rating to a "buy" rating in a report on Wednesday, May 15th.

View Our Latest Stock Report on Ardmore Shipping

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.

See Also

Should you invest $1,000 in Ardmore Shipping right now?

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

12 Stocks Corporate Insiders are Abandoning Cover

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

CPI News Breakdown: Key Market Moves to Follow
Understanding Oversold Stocks
Inside Pelosi’s Latest Stock Moves

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines