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

Ardmore Shipping Co. (NYSE:ASC) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,290,000 shares, an increase of 8.0% from the December 15th total of 2,120,000 shares. Based on an average daily trading volume, of 829,600 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASC shares. StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their target price on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.00.

Institutional Investors Weigh In On Ardmore Shipping

A number of institutional investors and hedge funds have recently bought and sold shares of ASC. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ardmore Shipping during the 2nd quarter valued at approximately $29,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ardmore Shipping by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company’s stock worth $1,799,000 after acquiring an additional 1,302 shares during the last quarter. Franklin Resources Inc. grew its stake in Ardmore Shipping by 3.0% during the third quarter. Franklin Resources Inc. now owns 44,482 shares of the shipping company’s stock valued at $769,000 after acquiring an additional 1,304 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ardmore Shipping by 261.1% in the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,530 shares during the last quarter. Finally, Private Trust Co. NA purchased a new stake in Ardmore Shipping in the 3rd quarter worth $31,000. 62.22% of the stock is owned by institutional investors.

Ardmore Shipping Stock Performance

Shares of ASC stock traded down $0.29 during trading hours on Friday, reaching $12.25. 678,542 shares of the company traded hands, compared to its average volume of 639,120. The company has a market cap of $512.33 million, a P/E ratio of 3.43 and a beta of 0.28. Ardmore Shipping has a 12-month low of $10.86 and a 12-month high of $23.44. The firm has a 50-day moving average price of $11.95 and a 200 day moving average price of $16.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.57 and a quick ratio of 3.26.

Ardmore Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors 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 5.88%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s dividend payout ratio (DPR) is 20.17%.

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.