Ardmore Shipping (NYSE:ASC) Shares Down 3.2% – Time to Sell?

Shares of Ardmore Shipping Co. (NYSE:ASC) were down 3.2% during mid-day trading on Friday . The stock traded as low as $12.01 and last traded at $12.03. Approximately 107,241 shares traded hands during trading, a decline of 71% from the average daily volume of 374,123 shares. The stock had previously closed at $12.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ASC shares. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Stifel Nicolaus downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating and decreased their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their price objective on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

Ardmore Shipping Price Performance

The firm has a fifty day moving average of $12.12 and a two-hundred day moving average of $16.70. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $516.33 million, a PE ratio of 3.46 and a beta of 0.28.

Ardmore Shipping Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, November 29th. Ardmore Shipping’s dividend payout ratio (DPR) is presently 20.17%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASC. GAMMA Investing LLC boosted its position in Ardmore Shipping by 261.1% during the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after buying an additional 1,530 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ardmore Shipping during the second quarter worth about $29,000. Private Trust Co. NA purchased a new stake in shares of Ardmore Shipping during the third quarter worth about $31,000. Larson Financial Group LLC bought a new stake in shares of Ardmore Shipping in the second quarter worth about $34,000. Finally, Nisa Investment Advisors LLC increased its holdings in Ardmore Shipping by 2,906.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 2,906 shares during the period. 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.