A share of Ardmore Shipping Corporation (NYSE:ASC) closed at $14.47 per share on Wednesday, down from $15.15 day before. While Ardmore Shipping Corporation has underperformed by -4.49%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ASC rose by 275.84%, with highs and lows ranging from $15.34 to $3.09, whereas the simple moving average jumped by 81.53% in the last 200 days.
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On July 21, 2022, Jefferies started tracking Ardmore Shipping Corporation (NYSE: ASC) recommending Buy. H.C. Wainwright also Upgraded ASC shares as ‘Buy’, setting a target price of $5.50 on the company’s shares in a report dated April 29, 2021. H.C. Wainwright Initiated an Neutral rating on March 29, 2021, and assigned a price target of $5.50. Pareto October 26, 2020d its ‘Buy’ rating to ‘Hold’ for ASC, as published in its report on October 26, 2020. Stifel’s report from January 23, 2020 suggests a price prediction of $9.50 for ASC shares, giving the stock a ‘Buy’ rating. Stifel also rated the stock as ‘Hold’.
Analysis of Ardmore Shipping Corporation (ASC)
Further, the quarter-over-quarter increase in sales is 201.70%, showing a positive trend in the upcoming months.
Ardmore Shipping Corporation’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 22.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and ASC is registering an average volume of 754.73K. On a monthly basis, the volatility of the stock is set at 5.17%, whereas on a weekly basis, it is put at 5.57%, with a gain of 5.16% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.00, showing growth from the present price of $14.47, which can serve as yet another indication of whether ASC is worth investing in or should be passed over.
How Do You Analyze Ardmore Shipping Corporation Shares?
A giant in the Oil & Gas Midstream market, Ardmore Shipping Corporation (ASC) is based in the Bermuda. When comparing Ardmore Shipping Corporation shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 7.80, there is a growth in quarterly earnings of 507.10%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 8.94%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 68.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ASC shares?
The recent increase in stakes in ASC appears to be a result of several institutional investors and hedge funds increasing their positions. Aristotle Capital Boston LLC’s position in ASC has decreased by -6.07% in the first quarter. The company now owns 2,393,165 shares of the stock, with a value of $32.38 million, following the sale of -154,536 additional shares during the last quarter. Private Management Group, Inc. made another decreased to its shares in ASC during the first quarter, downing its stake by -12.12%. During the last quarter, the company picked up -315,396 additional shares for a total stake of worth $30.95 million, bringing number of shares owned by the company to 2,287,398.
During the first quarter, Dimensional Fund Advisors LP added a 249,678 position in ASC. BlackRock Fund Advisors purchased an additional 0.42 million shares in the last quarter, increasing its holdings by 24.68%, now holding 2.1 million shares worth $28.4 million. At the end of the first quarter, Millennium Management LLC increased its ASC holdings by 79.79% and now holds 1.53 million ASC shares valued at $20.75 million with the added 0.68 million shares during the period. ASC shares are owned by institutional investors to the tune of 68.10% at present.