Ardmore Shipping Corporation (NYSE:ASC):
Ardmore Shipping Corporation Announces Financial Results for the Three and Nine Months Ended September 30, 2017.
The company is so far trading unchanged from yesterday’s close of $8.30.
Ardmore Shipping Corporation, launched 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 Business’s segment relates to the operations of its vessels. The Business’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation. The Business’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..
The stock is trading at $8.30 just a bit lower than the 50 day moving average which is $8.33 and a bit higher than the 200 day moving average of $7.86. The 50 day moving average was down by -0.40% and the 200 day average went up by +5.56%.
As of the last earnings report the EPS was $-0.37 and is expected to be $-0.26 for the current year with 33,575,000 shares currently outstanding. Next quarter’s EPS is expected be $0.01 and the next full year EPS is projected to be $0.59.
Investors are feeling more bullish on the company if you take a look at the fall in short interest. The firm experienced a fall in short interest from September 29, 2017 to October 13, 2017 of -21.66%. Short interest decreased from 2,374,039 to 1,859,861 over that period. Days to cover decreased -5.0 to 10.0 and the percentage of shorted shares is 0.06% as of October 13.