ASC has been the topic of a number of other reports. Morgan Stanley set a $8.00 target price on shares of Ardmore Shipping and gave the stock a hold rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Ardmore Shipping from a sell rating to a hold rating in a report on Wednesday, July 24th. Finally, Pareto Securities upgraded shares of Ardmore Shipping from a hold rating to a buy rating in a report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $8.68.
Shares of ASC stock traded up $0.02 during midday trading on Thursday, reaching $6.92. 241,765 shares of the company were exchanged, compared to its average volume of 213,601. Ardmore Shipping has a 12 month low of $4.22 and a 12 month high of $8.77. The business has a 50 day simple moving average of $7.61. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.21.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ardmore Shipping in the 2nd quarter worth approximately $95,000. BlackRock Inc. raised its holdings in shares of Ardmore Shipping by 18.5% in the 4th quarter. BlackRock Inc. now owns 1,903,432 shares of the shipping company’s stock worth $8,889,000 after purchasing an additional 296,893 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ardmore Shipping by 14.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock worth $7,850,000 after purchasing an additional 210,973 shares in the last quarter. Adirondack Research & Management Inc. raised its holdings in shares of Ardmore Shipping by 1.0% in the 1st quarter. Adirondack Research & Management Inc. now owns 398,837 shares of the shipping company’s stock worth $2,457,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Private Management Group Inc. raised its holdings in shares of Ardmore Shipping by 2.4% in the 1st quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock worth $5,229,000 after purchasing an additional 20,215 shares in the last quarter. Institutional investors and hedge funds own 90.31% of the company’s stock.
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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