Notable Mover: Is Selling Ardmore Shipping Corp Here a Winning Strategy?

Notable Mover: Is Selling Ardmore Shipping Corp Here a Winning Strategy?

The stock of Ardmore Shipping Corp (NYSE:ASC) is a huge mover today! About 458,946 shares traded hands or 27.39% up from the average. Ardmore Shipping Corp (NYSE:ASC) has declined 28.73% since April 13, 2016 and is downtrending. It has underperformed by 32.66% the S&P500.
The move comes after 6 months negative chart setup for the $196.47M company. It was reported on Nov, 15 by Barchart.com. We have $5.38 PT which if reached, will make NYSE:ASC worth $21.61 million less.

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 stock has “Hold” rating given by ABN Amro on Friday, July 1. The firm has “Buy” rating by Jefferies given on Wednesday, July 27. The stock of Ardmore Shipping Corp (NYSE:ASC) has “Buy” rating given on Wednesday, May 4 by Seaport Global. Morgan Stanley downgraded the shares of ASC in a report on Thursday, August 25 to “Equal-Weight” rating. JP Morgan maintained the stock with “Overweight” rating in Thursday, April 7 report. As per Tuesday, December 15, the company rating was initiated by Deutsche Bank. Seaport Global upgraded the stock to “Speculative Buy” rating in Thursday, November 5 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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