Ardmore Shipping Co. (NYSE:ASC) Short Interest Update

Ardmore Shipping Co. (NYSE:ASC) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,850,000 shares, a decline of 15.9% from the February 28th total of 2,200,000 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average trading volume of 749,300 shares, the days-to-cover ratio is presently 2.5 days.

Ardmore Shipping Stock Performance

Shares of ASC traded down $0.38 on Thursday, reaching $9.28. The company’s stock had a trading volume of 362,195 shares, compared to its average volume of 697,728. Ardmore Shipping has a 12-month low of $8.83 and a 12-month high of $23.44. The stock has a market capitalization of $375.42 million, a P/E ratio of 3.03 and a beta of 0.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.24 and a quick ratio of 3.86. The stock’s 50 day simple moving average is $10.45 and its two-hundred day simple moving average is $12.66.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. Research analysts forecast that Ardmore Shipping will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.45%. Ardmore Shipping’s payout ratio is currently 10.46%.

Analyst Ratings Changes

Several research firms have recently weighed in on ASC. Stifel Nicolaus decreased their price target on Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price objective on shares of Ardmore Shipping in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Ardmore Shipping presently has an average rating of “Hold” and an average target price of $18.00.

Institutional Trading of Ardmore Shipping

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Ardmore Shipping by 261.1% in the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock worth $26,000 after buying an additional 1,530 shares in the last quarter. Signaturefd LLC raised its stake in Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company’s stock valued at $29,000 after purchasing an additional 919 shares during the period. Farther Finance Advisors LLC lifted its holdings in Ardmore Shipping by 302.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock worth $31,000 after purchasing an additional 1,893 shares in the last quarter. Lazard Asset Management LLC bought a new position in Ardmore Shipping in the 4th quarter worth approximately $36,000. Finally, Quarry LP raised its position in shares of Ardmore Shipping by 829.0% during the third quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock valued at $64,000 after buying an additional 3,175 shares during the last quarter. 62.22% of the stock is currently owned by 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.