In the meantime, Jefferies initiated its Ardmore Shipping Corporation [ASC] rating to a Buy in a research note published on Tuesday, July 21, 2022; the price target was $10. PT values the company’s stock at a premium of -37.1 to its Tuesday closing price. H.C. Wainwright also remained covering ASC and has increased its forecast on April 29, 2021 with a “Buy” recommendation from previously “Neutral” rating. H.C. Wainwright started covering the stock on March 29, 2021. It rated ASC as “a Neutral”.
Price Performance Review of ASC
On Tuesday, Ardmore Shipping Corporation [NYSE:ASC] saw its stock jump 5.62% to $13.71. On the same session, the stock had its day’s lowest price of $12.88, but rose to a high of $14.06. Over the last five days, the stock has lost -3.59%. Ardmore Shipping Corporation shares have fallen nearly -4.86% since the year began. Nevertheless, the stocks have risen 309.25% over the past one year. While a 52-week high of $16.32 was reached on 01/17/23, a 52-week low of $3.09 was recorded on 01/24/23. SMA at 50 days reached $14.31, while 200 days put it at $10.04. A total of 1.65 million shares were traded, compared to the trading of 0.31 million shares in the previous session.
Levels Of Support And Resistance For ASC Stock
The 24-hour chart illustrates a support level at 13.04, which if violated will result in even more drops to 12.37. On the upside, there is a resistance level at 14.22. A further resistance level may holdings at 14.73. The Relative Strength Index (RSI) on the 14-day chart is 48.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.89%. Stochastics %K at 34.72% indicates the stock is a holding.
How much short interest is there in Ardmore Shipping Corporation?
A steep rise in short interest was recorded in Ardmore Shipping Corporation stocks on Oct 13, 2022, growing by 0.43 million shares to a total of 1.38 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 0.95 million shares. There was a rise of 31.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.46% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.09.
Ardmore Shipping Corporation [ASC] – Who Are The Largest Shareholders?
In filings from Aristotle Capital Boston LLC, it is revealed that the company now owns 2,393,165 shares, or roughly 6.96% of the outstanding ASC shares. In other words, the investor’s shares have fallen by -154,536 from its previous 13-F filing of 2547701.0. Additionally, Private Management Group, Inc. decreased -12.12% of its stake after which the total value it holdings stand at $32,961,405, while Dimensional Fund Advisors LP added 12.95% of its stake to hold $31.39 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 415,580 shares of Ardmore Shipping Corporation, while Millennium Management LLC bought 680,684 shares. At present, Royce & Associates LP is holding 1,183,293 shares valued at $17.05 million. RBF Capital LLC owned 941,880 shares of the company at the time of its most recent 13F filing, worth $13.57 million.
According to FactSet, Ardmore Shipping Corporation’s share price will average $16.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 34.82 percent from its previous closing price of $12.98. Analysts expect Ardmore Shipping Corporation stock to reach the higher price of $18.00, while the lowest price estimate is $14.00. However, 4 analysts have rated ASC stock as a Buy in their predictions for 2023.