Ardmore Shipping Co. (NYSE:ASC – Get Rating) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 340,200 shares, an increase of 24.0% from the May 15th total of 274,300 shares. Based on an average daily volume of 530,800 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.1% of the shares of the company are sold short.
NYSE:ASC opened at $7.58 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.86 and a quick ratio of 1.66. The stock has a 50-day moving average price of $6.78 and a two-hundred day moving average price of $4.89. Ardmore Shipping has a 1 year low of $3.07 and a 1 year high of $8.24.
Ardmore Shipping (NYSE:ASC – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The shipping company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.07. Ardmore Shipping had a negative net margin of 16.80% and a negative return on equity of 9.46%. During the same quarter in the previous year, the company posted ($0.26) earnings per share. Research analysts expect that Ardmore Shipping will post 0.81 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Eqis Capital Management Inc. acquired a new position in Ardmore Shipping in the 1st quarter valued at about $46,000. Virtu Financial LLC bought a new position in Ardmore Shipping during the 1st quarter worth $68,000. Renaissance Technologies LLC bought a new position in shares of Ardmore Shipping in the fourth quarter worth $63,000. Marshall Wace LLP acquired a new position in shares of Ardmore Shipping in the 4th quarter valued at approximately $79,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Ardmore Shipping during the fourth quarter valued at approximately $100,000. 66.52% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. TheStreet raised shares of Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. Jefferies Financial Group started coverage on Ardmore Shipping in a research report on Wednesday, April 27th. They issued a “buy” rating and a $7.50 target price for the company. StockNews.com started coverage on Ardmore Shipping in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, HC Wainwright boosted their target price on shares of Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ardmore Shipping has an average rating of “Hold” and an average price target of $6.70.
Ardmore Shipping Company Profile (Get Rating)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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