TipRanksStock Market NewsASC NewsArdmore Shipping (ASC) Gets a Buy Rating from H.C. Wainwright

Ardmore Shipping (ASC) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Magnus Fyhr reiterated a Buy rating on Ardmore Shipping (ASCResearch Report) today and set a price target of $5.50. The company’s shares closed last Tuesday at $3.88.

According to TipRanks.com, Fyhr is a 1-star analyst with an average return of -3.7% and a 41.1% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, Star Bulk Carriers, and Golden Ocean Group.

Ardmore Shipping has an analyst consensus of Moderate Buy, with a price target consensus of $4.80.

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Based on Ardmore Shipping’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $47.2 million and GAAP net loss of $12.29 million. In comparison, last year the company earned revenue of $45.21 million and had a GAAP net loss of $6.63 million.

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Ardmore Shipping Corp. engages in the ocean transportation of petroleum and chemical products in international trade through the ownership and operation of a fleet of tankers. It provides shipping services through voyage charters, time charters, and commercial pools. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.

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