Ardmore Shipping (NYSE:ASC – Get Rating) posted its earnings results on Wednesday. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.07, MarketWatch Earnings reports. Ardmore Shipping had a negative net margin of 16.80% and a negative return on equity of 9.31%. During the same period in the previous year, the firm posted ($0.26) EPS.
NYSE ASC traded down $0.17 during trading hours on Friday, reaching $7.00. 598,173 shares of the company’s stock traded hands, compared to its average volume of 444,450. Ardmore Shipping has a 52-week low of $3.07 and a 52-week high of $7.39. The firm has a 50-day simple moving average of $5.05 and a 200 day simple moving average of $4.21. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 1.15.
A number of hedge funds and other institutional investors have recently modified their holdings of ASC. Renaissance Technologies LLC bought a new position in shares of Ardmore Shipping in the fourth quarter worth approximately $63,000. Marshall Wace LLP bought a new position in Ardmore Shipping in the 4th quarter valued at approximately $79,000. Morgan Stanley boosted its stake in Ardmore Shipping by 119.8% during the 2nd quarter. Morgan Stanley now owns 70,291 shares of the shipping company’s stock valued at $297,000 after purchasing an additional 38,307 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ardmore Shipping by 3.6% in the 3rd quarter. Invesco Ltd. now owns 88,924 shares of the shipping company’s stock worth $369,000 after purchasing an additional 3,109 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Ardmore Shipping by 2.8% in the fourth quarter. Millennium Management LLC now owns 126,753 shares of the shipping company’s stock worth $428,000 after purchasing an additional 3,405 shares during the last quarter. 66.52% of the stock is owned by institutional investors.
Several analysts have issued reports on ASC shares. TheStreet upgraded shares of Ardmore Shipping from a “d+” rating to a “c-” rating in a research note on Wednesday, April 27th. HC Wainwright increased their target price on shares of Ardmore Shipping from $5.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, April 22nd. StockNews.com started coverage on shares of Ardmore Shipping in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Tuesday, April 26th. Finally, Jefferies Financial Group started coverage on shares of Ardmore Shipping in a research report on Wednesday, April 27th. They set a “buy” rating and a $7.50 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Ardmore Shipping presently has a consensus rating of “Buy” and a consensus price target of $6.59.
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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