According to Bloomberg, the seven research firms that follow Ardmore Shipping Co. (NYSE: ASC) have given the company a rating of “Moderate Buy” as their recommendation for the company as a whole, as a collective result of their combined efforts. The stock has been given a buy rating by a total of four analysts, while two analysts have only recommended holding on to it. The vast majority of research analysts who have updated their stock coverage during the past year have projected that the stock will reach $7.53 within the next year as a price goal. Recent publications feature multiple research experts who analyzed the ASC stock and published their findings. The “buy” recommendation that Clarkson Capital had previously given on the stock of Ardmore Shipping was changed on June 14th, and the firm reported the update the following Tuesday. On July 20th, Jefferies Financial Group released a report on July 20th, in which they stated that they would be providing coverage for Ardmore Shipping from now on. They suggested investing in the company by purchasing shares of stock and establishing a price objective of $10.00 per share. In a report published on July 29th, Bloomberg upgraded its previous recommendation for Ardmore Shipping from a “hold” rating to a “buy” recommendation in a report published on July 29th. At one point, a “hold” rating had been assigned to the corporation. NYSE ASC began trading for $9.96 on Tuesday morning when the market opened.
The company’s price-to-earnings ratio is 248.94, and its beta value comes in at 0.36. The company’s total value, as measured by its market capitalization, is $344.36 million. Moving averages for the previous 50 days come in at $8.22 for the company while moving averages for the past 200 days come in at $6.61. A debt-to-equity ratio comes in at 0.87, a quick ratio that comes in at 2.25, a current ratio that comes in at 2.54, and a quick ratio that comes in at 2.25. During the previous 52 weeks, the share price of Ardmore Shipping fluctuated between a low of $3.09 and a high of $10.36. On July 27th, the most recent quarterly results report for Ardmore Shipping (NYSE: ASC) was made available to the general public. The shipping company reported an earnings per share figure for the quarter of $0.81, which was $0.02 higher than the average estimate of analysts in the shipping industry, which was $0.79. As compared to the $64.51 million that industry analysts projected sales to be for the quarter, the company recorded a total of $65.95 million in revenue for the period in question. As a result, Ardmore Shipping was able to meet its goals of achieving a return on equity of 2.52 percent and a net margin of 0.92 percent. Compared to the previous year’s results for the same period, the company’s earnings per share came in at $0.23. The majority opinion that professionals in the relevant field are that Ardmore Shipping will post earnings per share of $2.41 in 2018. Recent events have resulted in institutional investors and hedge funds adjusting the overall number of shares of stock that are held in their respective portfolios. During the second quarter, Saltoro Capital LP made a $41,000 investment in Ardmore Shipping.
Saltoro Capital LP made this investment. During the second quarter of the fiscal year, Dorsey Wright & Associates made an investment in Ardmore Shipping stock of $45,000. Eqis Capital Management Inc. spent $46,000 to acquire a partial interest in Ardmore Shipping during the year’s first three months. A financial investment of $68,000 was made in Ardmore Shipping by Virtu Financial LLC during the first three months of 2018. Last but not least, during the second quarter, PDT Partners LLC spent $76,000 purchasing an investment in Ardmore Shipping. This transaction should not be considered the least important. Institutional investors and hedge funds collectively own 66.52% of the total number of shares in the company, making up the majority of the shareholders. The ocean shipment of chemical and petroleum products all over the world is the responsibility of the Ardmore Shipping Corporation. As of February 15th, 2022, the corporation’s fleet comprised 25 double-hulled product and chemical tankers. The company’s customers come from various industries and include oil majors, oil firms, oil and chemical merchants, chemical enterprises, and providers of pooling services, among others.
