Ardmore Shipping (NYSE:ASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “

Several other equities research analysts have also recently 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, December 11th. ValuEngine cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday. Fearnley Fonds cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.50.

Shares of Ardmore Shipping stock traded up $0.62 during trading on Friday, reaching $6.73. The company’s stock had a trading volume of 1,365,845 shares, compared to its average volume of 369,756. Ardmore Shipping has a 52-week low of $5.04 and a 52-week high of $9.79. The company has a market cap of $175.75 million, a price-to-earnings ratio of -5.34 and a beta of 1.35. The firm’s 50-day moving average is $7.32 and its two-hundred day moving average is $7.48. The company has a quick ratio of 1.34, a current ratio of 1.50 and a debt-to-equity ratio of 1.20.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Tuesday, February 11th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). Ardmore Shipping had a negative net margin of 18.34% and a negative return on equity of 6.11%. The business had revenue of $38.08 million during the quarter, compared to analysts’ expectations of $38.91 million. On average, equities research analysts anticipate that Ardmore Shipping will post -0.26 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ASC. Cooper Creek Partners Management LLC raised its holdings in Ardmore Shipping by 146.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 560,422 shares of the shipping company’s stock worth $5,072,000 after purchasing an additional 332,622 shares in the last quarter. Signia Capital Management LLC raised its holdings in Ardmore Shipping by 87.5% in the 4th quarter. Signia Capital Management LLC now owns 632,965 shares of the shipping company’s stock worth $5,728,000 after purchasing an additional 295,294 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Ardmore Shipping by 113.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 486,261 shares of the shipping company’s stock worth $4,400,000 after purchasing an additional 258,789 shares in the last quarter. EAM Investors LLC bought a new position in Ardmore Shipping in the 4th quarter worth $2,213,000. Finally, Renaissance Technologies LLC raised its holdings in Ardmore Shipping by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 907,598 shares of the shipping company’s stock worth $8,214,000 after purchasing an additional 232,100 shares in the last quarter. 85.48% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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