Ardmore Shipping (NYSE:ASC) Trading 6.1% Higher - Time to Buy?

Ardmore Shipping Co. (NYSE:ASC - Get Free Report) shares traded up 6.1% during mid-day trading on Friday . The company traded as high as $13.50 and last traded at $13.32. 180,853 shares were traded during mid-day trading, a decline of 71% from the average session volume of 623,895 shares. The stock had previously closed at $12.56.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ASC shares. Jefferies Financial Group cut their price objective on Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, November 14th. StockNews.com cut shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Wednesday, September 25th. Stifel Nicolaus lowered shares of Ardmore Shipping from a "buy" rating to a "hold" rating and cut their target price for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of Ardmore Shipping to a "hold" rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ardmore Shipping has a consensus rating of "Hold" and an average price target of $20.00.

Ardmore Shipping Stock Performance

The stock has a market capitalization of $563.61 million, a PE ratio of 3.77 and a beta of 0.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The firm has a 50 day moving average of $11.98 and a 200-day moving average of $16.44.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Friday, November 29th. Ardmore Shipping's dividend payout ratio (DPR) is 20.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASC. GAMMA Investing LLC increased its stake in shares of Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock worth $26,000 after acquiring an additional 1,530 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ardmore Shipping in the 2nd quarter valued at $29,000. Private Trust Co. NA bought a new stake in shares of Ardmore Shipping in the third quarter valued at about $31,000. Nisa Investment Advisors LLC lifted its position in shares of Ardmore Shipping by 2,906.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company's stock worth $54,000 after acquiring an additional 2,906 shares during the period. Finally, Quarry LP boosted its stake in Ardmore Shipping by 829.0% during the third quarter. Quarry LP now owns 3,558 shares of the shipping company's stock worth $64,000 after buying an additional 3,175 shares in the last quarter. 62.22% of the stock is owned by hedge funds and other institutional investors.

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.