BidaskClub cut shares of Ardmore Shipping Corporation (NYSE:ASC) from a hold rating to a sell rating in a research report report published on Thursday.

Several other research firms have also commented on ASC. Jefferies Group LLC reaffirmed a buy rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Tuesday, July 4th. ValuEngine raised shares of Ardmore Shipping Corporation from a sell rating to a hold rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Ardmore Shipping Corporation from a sell rating to a hold rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a buy rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Finally, TheStreet lowered shares of Ardmore Shipping Corporation from a c- rating to a d rating in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Ardmore Shipping Corporation has a consensus rating of Hold and a consensus target price of $9.88.

Ardmore Shipping Corporation (ASC) opened at 7.95 on Thursday. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75. The firm’s market capitalization is $266.92 million. The stock’s 50 day moving average is $7.96 and its 200-day moving average is $7.59.

Ardmore Shipping Corporation (NYSE:ASC) last released its earnings results on Wednesday, May 3rd. The shipping company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Ardmore Shipping Corporation had a negative net margin of 3.03% and a negative return on equity of 0.60%. The firm had revenue of $49.67 million for the quarter, compared to analyst estimates of $30.75 million. During the same period last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities analysts anticipate that Ardmore Shipping Corporation will post ($0.05) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.watchlistnews.com/ardmore-shipping-corporation-asc-lowered-to-sell-at-bidaskclub/1463640.html.

A number of large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its stake in Ardmore Shipping Corporation by 0.3% in the first quarter. Parametric Portfolio Associates LLC now owns 170,457 shares of the shipping company’s stock valued at $1,372,000 after buying an additional 481 shares in the last quarter. Geode Capital Management LLC increased its stake in Ardmore Shipping Corporation by 1.2% in the first quarter. Geode Capital Management LLC now owns 222,153 shares of the shipping company’s stock valued at $1,788,000 after buying an additional 2,530 shares in the last quarter. Nationwide Fund Advisors increased its stake in Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock valued at $164,000 after buying an additional 2,792 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Ardmore Shipping Corporation by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 118,933 shares of the shipping company’s stock valued at $957,000 after buying an additional 3,900 shares in the last quarter. Finally, American International Group Inc. increased its stake in Ardmore Shipping Corporation by 33.3% in the first quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock valued at $135,000 after buying an additional 4,177 shares in the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.

Ardmore Shipping Corporation Company Profile

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

Analyst Recommendations for Ardmore Shipping Corporation (NYSE:ASC)

Receive News & Ratings for Ardmore Shipping Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.