Ardmore Shipping (NYSE:ASC) Hits New 52-Week Low - Time to Sell?

Ardmore Shipping Co. (NYSE:ASC - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $12.55 and last traded at $12.62, with a volume of 155987 shares traded. The stock had previously closed at $12.86.

Analyst Ratings Changes

A number of brokerages have recently commented on ASC. Fearnley Fonds upgraded Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group upped their price target on Ardmore Shipping from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. StockNews.com lowered Ardmore Shipping from a "buy" rating to a "hold" rating in a report on Wednesday, September 25th. Evercore ISI boosted their price objective on Ardmore Shipping from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus cut Ardmore Shipping from a "buy" rating to a "hold" rating and lowered their price objective for the company from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.33.

Ardmore Shipping Stock Down 5.6 %

The business has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $19.19. The stock has a market capitalization of $508.15 million, a P/E ratio of 3.46 and a beta of 0.37. The company has a quick ratio of 3.18, a current ratio of 3.50 and a debt-to-equity ratio of 0.07.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Friday, November 29th. Ardmore Shipping's dividend payout ratio (DPR) is 43.30%.

Institutional Trading of Ardmore Shipping

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC grew its holdings in shares of Ardmore Shipping by 322.0% during the second quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company's stock worth $28,000 after purchasing an additional 953 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardmore Shipping during the second quarter worth $29,000. Larson Financial Group LLC bought a new stake in shares of Ardmore Shipping during the second quarter worth $34,000. nVerses Capital LLC bought a new stake in shares of Ardmore Shipping during the second quarter worth $47,000. Finally, CWM LLC grew its holdings in shares of Ardmore Shipping by 72.7% during the second quarter. CWM LLC now owns 2,110 shares of the shipping company's stock worth $48,000 after purchasing an additional 888 shares during the last quarter. Institutional investors own 62.22% of the company's stock.

Ardmore Shipping Company Profile

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.