Ardmore Shipping Co. (NYSE:ASC - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,290,000 shares, a growth of 8.0% from the December 31st total of 2,120,000 shares. Based on an average daily trading volume, of 829,600 shares, the days-to-cover ratio is presently 2.8 days.
Ardmore Shipping Price Performance
Shares of NYSE:ASC traded down $0.06 during trading on Friday, hitting $11.58. 465,752 shares of the stock were exchanged, compared to its average volume of 739,398. Ardmore Shipping has a 12-month low of $10.86 and a 12-month high of $23.44. The company has a market cap of $484.51 million, a PE ratio of 3.24 and a beta of 0.25. The company has a fifty day moving average price of $11.87 and a two-hundred day moving average price of $15.17. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.
Wall Street Analysts Forecast Growth
ASC has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered Ardmore Shipping from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group lowered their price target on shares of Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.00.
View Our Latest Stock Report on ASC
Institutional Trading of Ardmore Shipping
Several large investors have recently bought and sold shares of ASC. Squarepoint Ops LLC acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth $360,000. AQR Capital Management LLC raised its position in Ardmore Shipping by 18.4% during the second quarter. AQR Capital Management LLC now owns 106,926 shares of the shipping company's stock worth $2,409,000 after acquiring an additional 16,633 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Ardmore Shipping during the second quarter worth about $205,000. Sanctuary Advisors LLC acquired a new stake in shares of Ardmore Shipping in the second quarter valued at approximately $454,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardmore Shipping in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 62.22% of the company's stock.
About Ardmore Shipping
(
Get Free Report)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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