Ardmore Shipping Corporation (NYSE:ASC) Short Interest Update

Ardmore Shipping Corporation (NYSE:ASC) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 2,140,681 shares, a growth of 16.4% from the February 12th total of 1,839,604 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 925,468 shares, the days-to-cover ratio is presently 2.3 days. Based on an average trading volume of 925,468 shares, the days-to-cover ratio is presently 2.3 days. Currently, 5.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Ardmore Shipping

Institutional investors have recently bought and sold shares of the business. Zions Bancorporation National Association UT bought a new stake in Ardmore Shipping in the 4th quarter valued at $25,000. Raymond James Financial Inc. acquired a new stake in shares of Ardmore Shipping during the 2nd quarter valued at about $38,000. Ameriflex Group Inc. bought a new stake in Ardmore Shipping in the third quarter valued at about $59,000. EverSource Wealth Advisors LLC raised its position in Ardmore Shipping by 1,689.0% in the second quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company’s stock worth $81,000 after purchasing an additional 7,972 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Ardmore Shipping by 536.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,737 shares of the shipping company’s stock worth $84,000 after purchasing an additional 7,364 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Trading Up 0.4%

NYSE:ASC opened at $14.34 on Tuesday. The company’s 50 day moving average is $13.55 and its 200-day moving average is $12.52. The company has a quick ratio of 3.98, a current ratio of 4.33 and a debt-to-equity ratio of 0.20. Ardmore Shipping has a 12 month low of $8.32 and a 12 month high of $16.91. The firm has a market cap of $583.95 million, a price-to-earnings ratio of 16.11 and a beta of -0.16.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Thursday, February 12th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $82.91 million during the quarter, compared to the consensus estimate of $51.00 million. Ardmore Shipping had a net margin of 13.22% and a return on equity of 7.02%. Equities analysts anticipate that Ardmore Shipping will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, February 27th. Ardmore Shipping’s dividend payout ratio is currently 40.45%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Ardmore Shipping in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.