The Attractiveness of Investing In Ardmore Shipping Corporation (ASC) is Growing


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”.

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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.


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