Notable Price Action: Does Ardmore Shipping Corp Have Any Gas After Today’s Huge Increase?

Notable Price Action: Does Ardmore Shipping Corp Have Any Gas After Today's Huge Increase?

The stock of Ardmore Shipping Corp (NYSE:ASC) is a huge mover today! About 425,891 shares traded hands or 13.68% up from the average. Ardmore Shipping Corp (NYSE:ASC) has declined 32.68% since April 14, 2016 and is downtrending. It has underperformed by 37.37% the S&P500.
The move comes after 9 months positive chart setup for the $218.99 million company. It was reported on Nov, 16 by Barchart.com. We have $14.11 PT which if reached, will make NYSE:ASC worth $238.70 million more.

Ardmore Shipping Corp (NYSE:ASC) Ratings Coverage

Out of 7 analysts covering Ardmore Shipping Corporation (NYSE:ASC), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Ardmore Shipping Corporation has been the topic of 9 analyst reports since October 29, 2015 according to StockzIntelligence Inc. The company was initiated on Tuesday, December 15 by Deutsche Bank. As per Friday, July 1, the company rating was upgraded by ABN Amro. The firm has “Equal-Weight” rating given on Thursday, August 25 by Morgan Stanley. The rating was reinitiated by Seaport Global on Wednesday, May 4 with “Buy”. The company was upgraded on Thursday, November 5 by Seaport Global. The stock of Ardmore Shipping Corp (NYSE:ASC) earned “Buy” rating by Jefferies on Wednesday, July 27. JP Morgan maintained the stock with “Overweight” rating in Thursday, April 7 report.

According to Zacks Investment Research, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland.”

More recent Ardmore Shipping Corp (NYSE:ASC) news were published by: Fool.com which released: “Ardmore Shipping Corp Sinks on a Discounted Stock Offering” on June 08, 2016. Also Prnewswire.com published the news titled: “Ardmore Shipping Corporation Announces the Delivery of the Ardmore Chippewa …” on November 20, 2015. Reuters.com‘s news article titled: “BRIEF-Ardmore Shipping Corp reports Q3 loss per share $0.14” with publication date: November 02, 2016 was also an interesting one.

ASC Company Profile

Ardmore Shipping Corporation, incorporated on May 14, 2013, 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 activities of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation. The Company’s vessels include Ardmore Seavaliant, Ardmore Seaventure, Ardmore Seavantage, Ardmore Seavanguard, Ardmore Sealion, Ardmore Seafox, Ardmore Seahawk, Ardmore Endeavour, Ardmore Seafarer, Ardmore Seatrader, Ardmore Seamaster and Ardmore Sealeader.

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