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Does Ardmore Shipping Corporation (ASC)’s Current Price Volatility Hinder Its Future Potential?

Ardmore Shipping Corporation (NYSE:ASC) has a beta value of 0.30 and has seen 1.03 million shares traded in the last trading session. The company, currently valued at $380.75M, closed the last trade at $10.26 per share which meant it lost -$0.18 on the day or -1.72% during that session. The ASC stock price is -2.92% off its 52-week high price of $10.56 and 69.88% above the 52-week low of $3.09. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.85 million shares traded. The 3-month trading volume is 789.83K shares.

The consensus among analysts is that Ardmore Shipping Corporation (ASC) is a Buy stock at the moment, with a recommendation rating of 1.20. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 4 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.74.

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Ardmore Shipping Corporation (NYSE:ASC) trade information

Sporting -1.72% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 09/20/22 when the ASC stock price touched $10.26 or saw a rise of 3.21%. Year-to-date, Ardmore Shipping Corporation shares have moved 203.55%, while the 5-day performance has seen it change 2.50%. Over the past 30 days, the shares of Ardmore Shipping Corporation (NYSE:ASC) have changed 3.22%. Short interest in the company has seen 1.29 million shares shorted with days to cover at 1.47.

Wall Street analysts have a consensus price target for the stock at $11.50, which means that the shares’ value could jump 10.78% from current levels. The projected low price target is $9.00 while the price target rests at a high of $15.00. In that case, then, we find that the current price level is -46.2% off the targeted high while a plunge would see the stock lose 12.28% from current levels.

Ardmore Shipping Corporation (ASC) estimates and forecasts

Figures show that Ardmore Shipping Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 122.08% over the past 6 months, with this year growth rate of 342.34%, compared to 14.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 300.00% and 238.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 107.30%.

3 analysts offering their estimates for the company have set an average revenue estimate of $52.43 million for the current quarter. 3 have an estimated revenue figure of $49.19 million for the next quarter concluding in Dec 2022. Year-ago sales stood $25 million and $27.87 million respectively for this quarter and the next, and analysts expect sales will grow by 109.70% for the current quarter and 76.50% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -61.70% over the past 5 years. Earnings growth for 2022 is a modest -518.00% while over the next 5 years, the company’s earnings are expected to increase by 42.64%.

ASC Dividends

Ardmore Shipping Corporation is expected to release its next earnings report between February 08 and February 14 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Ardmore Shipping Corporation (NYSE:ASC)’s Major holders

Insiders own 9.77% of the company shares, while shares held by institutions stand at 55.54% with a share float percentage of 61.55%. Investors are also buoyed by the number of investors in a company, with Ardmore Shipping Corporation having a total of 81 institutions that hold shares in the company. The top two institutional holders are Private Management Group, Inc. with over 2.82 million shares worth more than $12.67 million. As of Mar 30, 2022, Private Management Group, Inc. held 8.14% of shares outstanding.

The other major institutional holder is Aristotle Capital Boston, LLC, with the holding of over 2.48 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $11.15 million and represent 7.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Royce Opportunity Fund and Franklin Value Investors Trust-Franklin Microcap Value F. As of Mar 30, 2022, the former fund manager holds about 3.33% shares in the company for having 1.15 million shares of worth $5.19 million while later fund manager owns 0.91 million shares of worth $5.69 million as of Apr 29, 2022, which makes it owner of about 2.64% of company’s outstanding stock.

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