Ardmore Shipping Corp (NYSE: ASC) has a higher price-to-earnings ratio of 12.12x compared to its average ratio. ASC has 36-month beta value of 0.38. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 4 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for ASC is 37.19M, and currently, short sellers hold a 2.46% ratio of that float. The average trading volume of ASC on May 09, 2024 was 548.72K shares.
ASC) stock’s latest price update
The stock of Ardmore Shipping Corp (NYSE: ASC) has increased by 15.57 when compared to last closing price of 17.60.Despite this, the company has seen a gain of 21.94% in its stock price over the last five trading days. Seeking Alpha reported 2024-05-08 that Ardmore Shipping Corporation (NYSE:ASC ) Q1 2024 Earnings Conference Call May 8, 2024 10:00 AM ET Company Participants Anthony Gurnee – Chief Executive Officer Bart Kelleher – Chief Financial Officer Conference Call Participants Omar Nokta – Jefferies Jon Chappell – Evercore Climent Molins – Value Investor’s Edge Operator Good morning, ladies and gentlemen and welcome to Ardmore Shipping’s First Quarter 2024 Earnings Conference Call. Today’s call is being recorded and an audio webcast and presentation are available in the Investor Relations section of the company’s website, ardmoreshipping.com.
ASC’s Market Performance
Ardmore Shipping Corp (ASC) has seen a 21.94% rise in stock performance for the week, with a 29.31% gain in the past month and a 26.02% surge in the past quarter. The volatility ratio for the week is 4.90%, and the volatility levels for the past 30 days are at 3.15% for ASC.. The simple moving average for the past 20 days is 23.48% for ASC’s stock, with a 40.00% simple moving average for the past 200 days.
Analysts’ Opinion of ASC
Many brokerage firms have already submitted their reports for ASC stocks, with Jefferies repeating the rating for ASC by listing it as a “Buy.” The predicted price for ASC in the upcoming period, according to Jefferies is $10 based on the research report published on July 21, 2022 of the previous year 2022.
Jefferies, on the other hand, stated in their research note that they expect to see ASC reach a price target of $7.50. The rating they have provided for ASC stocks is “Buy” according to the report published on April 27th, 2022.
H.C. Wainwright gave a rating of “Buy” to ASC, setting the target price at $5.50 in the report published on April 29th of the previous year.
ASC Trading at 24.42% from the 50-Day Moving Average
After a stumble in the market that brought ASC to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 14.01% of gains for the given period.
Volatility was left at 3.15%, however, over the last 30 days, the volatility rate increased by 4.90%, as shares surge +30.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.02% upper at present.
During the last 5 trading sessions, ASC rose by +21.94%, which changed the moving average for the period of 200-days by +58.29% in comparison to the 20-day moving average, which settled at $16.71. In addition, Ardmore Shipping Corp saw 44.36% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for ASC
Current profitability levels for the company are sitting at:
- 0.33 for the present operating margin
- 0.52 for the gross margin
The net margin for Ardmore Shipping Corp stands at 0.29. The total capital return value is set at 0.2. Equity return is now at value 13.45, with 10.28 for asset returns.
Based on Ardmore Shipping Corp (ASC), the company’s capital structure generated 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at 3.04. The debt to equity ratio resting at 0.09. The interest coverage ratio of the stock is 11.34.
Currently, EBITDA for the company is 159.49 million with net debt to EBITDA at 0.3. When we switch over and look at the enterprise to sales, we see a ratio of 2.25. The receivables turnover for the company is 7.04for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.75.
Conclusion
To put it simply, Ardmore Shipping Corp (ASC) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
