Ardmore Shipping Corporation (NYSE:ASC) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also commented on ASC. BidaskClub lowered Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Monday, April 24th. Finally, TheStreet downgraded Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Ardmore Shipping Corporation currently has an average rating of “Hold” and an average target price of $9.88.

Shares of Ardmore Shipping Corporation (NYSE:ASC) traded down 1.99% during trading on Tuesday, hitting $7.40. 98,365 shares of the company were exchanged. The firm’s market capitalization is $248.46 million. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75. The firm’s 50-day moving average price is $7.98 and its 200 day moving average price is $7.59.

Ardmore Shipping Corporation (NYSE:ASC) last announced its earnings results on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The company had revenue of $49.85 million for the quarter, compared to analysts’ expectations of $31.73 million. During the same quarter in the previous year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. On average, equities research analysts expect that Ardmore Shipping Corporation will post ($0.12) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. Royce & Associates LP raised its stake in Ardmore Shipping Corporation by 7.8% in the first quarter. Royce & Associates LP now owns 1,565,675 shares of the shipping company’s stock worth $12,604,000 after buying an additional 113,500 shares during the last quarter. Schneider Capital Management Corp raised its stake in shares of Ardmore Shipping Corporation by 16.9% in the first quarter. Schneider Capital Management Corp now owns 535,745 shares of the shipping company’s stock worth $4,313,000 after buying an additional 77,591 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ardmore Shipping Corporation by 15.6% in the first quarter. Russell Investments Group Ltd. now owns 284,780 shares of the shipping company’s stock worth $2,292,000 after buying an additional 38,455 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Ardmore Shipping Corporation during the first quarter worth about $146,000. Finally, Paradigm Capital Management Inc. NY raised its stake in shares of Ardmore Shipping Corporation by 4.1% in the first quarter. Paradigm Capital Management Inc. NY now owns 127,100 shares of the shipping company’s stock worth $1,023,000 after buying an additional 5,000 shares during the last quarter. 76.54% of the stock is currently owned by institutional investors.

About Ardmore Shipping Corporation

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.

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Analyst Recommendations for Ardmore Shipping Corporation (NYSE:ASC)

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