Ardmore Shipping Corp (NYSE:ASC) Short Interest Up 7.5% in September

Ardmore Shipping Corp (NYSE:ASC) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 603,400 shares, a growth of 7.5% from the August 15th total of 561,500 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average trading volume of 245,400 shares, the short-interest ratio is presently 2.5 days.

ASC has been the topic of a number of research reports. Pareto Securities upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. ValuEngine lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Ardmore Shipping by 3.5% in the 2nd quarter. BlackRock Inc. now owns 1,890,610 shares of the shipping company’s stock valued at $15,408,000 after buying an additional 64,355 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ardmore Shipping by 14.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock valued at $7,850,000 after buying an additional 210,973 shares during the last quarter. Northern Trust Corp grew its position in shares of Ardmore Shipping by 1.8% in the 2nd quarter. Northern Trust Corp now owns 850,140 shares of the shipping company’s stock valued at $6,929,000 after buying an additional 15,190 shares during the last quarter. Private Management Group Inc. grew its position in shares of Ardmore Shipping by 2.4% in the 1st quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock valued at $5,229,000 after buying an additional 20,215 shares during the last quarter. Finally, Schneider Capital Management Corp grew its position in shares of Ardmore Shipping by 0.6% in the 1st quarter. Schneider Capital Management Corp now owns 722,798 shares of the shipping company’s stock valued at $4,452,000 after buying an additional 3,977 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

ASC stock traded down $0.06 during midday trading on Monday, reaching $6.80. 5,812 shares of the stock were exchanged, compared to its average volume of 242,444. The stock has a market capitalization of $227.07 million, a PE ratio of -6.52 and a beta of 1.23. Ardmore Shipping has a 52 week low of $4.22 and a 52 week high of $8.77. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.59 and a quick ratio of 1.43. The company has a fifty day moving average price of $6.40 and a 200 day moving average price of $6.87.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $55.00 million for the quarter, compared to the consensus estimate of $32.16 million. Ardmore Shipping had a negative return on equity of 7.82% and a negative net margin of 21.50%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, analysts anticipate that Ardmore Shipping will post -0.12 earnings per share for the current fiscal year.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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