Analysts predict Ardmore Shipping Corporation (ASC) stock to reach $20.00 in the next 12 months

Ardmore Shipping Corporation [ASC] stock prices are up 0.96% to $12.57 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ASC shares have gain 1.05% over the last week, with a monthly amount drifted -12.83%, and not seem to be holding up well over a long-time horizon.

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On 9, May 2023, Ardmore Shipping Corporation Announces Financial Results For The Three Months Ended March 31, 2023. In a post published today on Yahoo Finance, Ardmore Shipping Corporation (NYSE: ASC) (“Ardmore”, the “Company” or “we”) today announced results for the three months ended March 31, 2023.

From an analyst’s perspective:

The stock price of Ardmore Shipping Corporation [ASC] has been fluctuating between $6.32 and $19.41 over the past year. Currently, Wall Street analysts expect the stock to reach $20.00 within the next 12 months. Ardmore Shipping Corporation [NYSE: ASC] shares were valued at $12.57 at the most recent close of the market. An investor can expect a potential return of 59.11% based on the average ASC price forecast.

Analyzing the ASC fundamentals

The most recent quarter, Ardmore Shipping Corporation [NYSE:ASC] reported sales of 118.23 billion, representing a surge of 86.40%. Gross Margin for this corporation currently stands at +41.18% with Operating Margin at +35.77%, Pretax Margin comes in at +31.15%, and Net Margin reading is +31.06%. To continue investigating profitability, this company’s Return on Assets is posted at 19.12, Equity is 33.15, Total Capital is 22.90, and Invested Capital is 20.74. An extended look at the Principal structure reveals enduring liabilities to the total capital of 26.72 and enduring liabilities to assets of 25.51.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 12.32 points at the first support level, and at 12.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.73, and for the 2nd resistance point, it is at 12.89.

Ratios To Look Out For

It’s worth pointing out that Ardmore Shipping Corporation [NYSE:ASC]’s Current Ratio is 3.30. In addition, the Quick Ratio stands at 2.68 and the Cash Ratio stands at 0.96. Considering the valuation of this stock, the price to sales ratio is 1.24, the price to book ratio is 1.25 and the P/E (TTM) ratio is 2.72.