News stories about Ardmore Shipping Corporation (NYSE:ASC) have been trending somewhat positive recently, Alpha One reports. The research firm, a service of Accern, identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ardmore Shipping Corporation earned a news impact score of 0.06 on Alpha One’s scale. Alpha One also gave news articles about the shipping company an impact score of 44 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Shares of Ardmore Shipping Corporation (NYSE:ASC) traded up 0.316% during mid-day trading on Tuesday, hitting $7.925. The stock had a trading volume of 31,874 shares. The firm’s market cap is $266.08 million. The company has a 50-day moving average of $7.60 and a 200 day moving average of $7.43. Ardmore Shipping Corporation has a one year low of $5.00 and a one year high of $8.55.
Ardmore Shipping Corporation (NYSE:ASC) last issued its quarterly earnings data on Wednesday, May 3rd. The shipping company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The business had revenue of $49.67 million for the quarter, compared to analyst estimates of $30.75 million. Ardmore Shipping Corporation had a negative return on equity of 0.60% and a negative net margin of 3.03%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities research analysts forecast that Ardmore Shipping Corporation will post ($0.05) earnings per share for the current year.
A number of analysts have recently issued reports on ASC shares. ValuEngine cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. TheStreet cut Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a report on Wednesday, May 24th. ABN Amro upgraded Ardmore Shipping Corporation from a “hold” rating to a “buy” rating and set a $11.50 target price for the company in a report on Monday, March 6th. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 target price on shares of Ardmore Shipping Corporation in a report on Monday, April 24th. Finally, Zacks Investment Research cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.83.
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About Ardmore Shipping Corporation
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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