Ardmore Shipping (NYSE:ASC – Get Rating) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.
A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Ardmore Shipping in a report on Wednesday. They set a “buy” rating and a $7.50 price objective on the stock. HC Wainwright lifted their price objective on shares of Ardmore Shipping from $5.50 to $8.50 and gave the stock a “buy” rating in a report on Friday, April 22nd. StockNews.com began coverage on shares of Ardmore Shipping in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Ardmore Shipping currently has an average rating of “Buy” and an average price target of $6.59.
NYSE ASC opened at $6.25 on Wednesday. The company has a fifty day simple moving average of $4.75 and a 200 day simple moving average of $4.09. Ardmore Shipping has a 12-month low of $3.07 and a 12-month high of $6.44. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 1.15. The company has a market cap of $207.42 million, a P/E ratio of -5.58 and a beta of 0.64.
Ardmore Shipping (NYSE:ASC – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.25). The business had revenue of $27.87 million during the quarter, compared to the consensus estimate of $29.55 million. Ardmore Shipping had a negative net margin of 19.14% and a negative return on equity of 11.74%. During the same quarter last year, the firm posted ($0.39) EPS. Sell-side analysts predict that Ardmore Shipping will post -0.13 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Ardmore Shipping during the 4th quarter worth $63,000. Jump Financial LLC bought a new stake in Ardmore Shipping in the 3rd quarter valued at about $76,000. Marshall Wace LLP bought a new stake in Ardmore Shipping in the 4th quarter valued at about $79,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Ardmore Shipping in the 4th quarter valued at about $100,000. Finally, B. Riley Wealth Management Inc. bought a new stake in Ardmore Shipping in the 3rd quarter valued at about $208,000. Institutional investors own 60.11% of the company’s stock.
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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