Geode Capital Management LLC raised its position in Ardmore Shipping Corporation (NYSE:ASC) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,153 shares of the shipping company’s stock after buying an additional 2,530 shares during the period. Geode Capital Management LLC’s holdings in Ardmore Shipping Corporation were worth $1,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Ardmore Shipping Corporation during the first quarter worth $103,000. American International Group Inc. raised its position in shares of 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 worth $135,000 after buying an additional 4,177 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock worth $164,000 after buying an additional 2,792 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Ardmore Shipping Corporation by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 61,240 shares of the shipping company’s stock worth $453,000 after buying an additional 20,802 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Ardmore Shipping Corporation by 11.5% in the first quarter. OppenheimerFunds Inc. now owns 59,704 shares of the shipping company’s stock worth $481,000 after buying an additional 6,165 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Shares of Ardmore Shipping Corporation (ASC) traded up 0.311% on Wednesday, hitting $8.075. The company had a trading volume of 27,032 shares. The company has a 50 day moving average of $7.69 and a 200-day moving average of $7.60. The company’s market cap is $271.12 million. Ardmore Shipping Corporation has a 12-month low of $5.00 and a 12-month high of $8.75.

Ardmore Shipping Corporation (NYSE:ASC) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts forecast that Ardmore Shipping Corporation will post ($0.16) earnings per share for the current year.

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A number of research analysts have weighed in on ASC shares. Jefferies Group LLC reissued a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Tuesday, July 4th. Stifel Nicolaus reissued a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Friday, July 7th. TheStreet lowered Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research note on Wednesday, May 24th. BidaskClub lowered Ardmore Shipping Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, ValuEngine raised Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $10.50.

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.

Institutional Ownership by Quarter for Ardmore Shipping Corporation (NYSE:ASC)

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