Ardmore Shipping Corporation ASC was a big mover last session, as its shares rose over 9% on the day. The move came after the company reported a second-quarter profit of $5.5 million. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $6.71 to $7.37 in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Ardmore Shipping currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the shipping industry is Danaos Corporation DAC which sports a Zacks Rank #1 (Strong Buy).
Is ASC going up? Or down? Predict to see what others think: Up or Down
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