Stock in News Spotlight: Ardmore Shipping Corporation (NYSE:ASC)

Ardmore Shipping Corporation (NYSE:ASC) changed 17.33% to recent value of $6.23. The stock transacted 605686 shares during most recent day however it has an average volume of 257.50K shares. It spotted trading -36.36% off 52-week high price. On the other end, the stock has been noted 23.61% away from the low price over the last 52-weeks.

On Feb.11, 2020, Ardmore Shipping Corporation (NYSE:ASC) disclosed results for the three and twelve months ended December 31, 2019.

Highlights and Recent Activity

  • Reported net income of $1.9 million for the three months ended December 31, 2019, or $0.06 earnings per basic and diluted share, as compared to a net loss of $17.0 million, or $0.51 loss per basic and diluted share, for the three months ended December 31, 2018. Net income for the three months ended December 31, 2019 includes a write-off of $0.5 million of deferred finance fees related to refinancing. Net loss for the three months ended December 31, 2018 includes a write-off of $1.9 million of deferred finance fees related to sale and leaseback transactions and the held for sale loss on the Ardmore Seatrader of $6.4 million. The Company reported EBITDA (see Non-GAAP Measures section) of $17.8 million for the three months ended December 31, 2019, as compared to $1.5 million for the three months ended December 31, 2018.
  • Reported Adjusted earnings (see Non–GAAP Measures section) of $2.5 million for the three months ended December 31, 2019, or $0.08 Adjusted earnings per basic and diluted share, as compared to Adjusted loss of $8.8 million, or $0.26 Adjusted loss per basic and diluted share, for the three months ended December 31, 2018. The Company reported Adjusted EBITDA (see Non-GAAP Measures section) of $17.8 million for the three months ended December 31, 2019, as compared to $7.8 million for the three months ended December 31, 2018.
  • Reported net loss of $22.9 million for the twelve months ended December 31, 2019, or $0.69 loss per basic and diluted share, as compared to a net loss of $42.9 million, or $1.31 loss per basic and diluted share, for the twelve months ended December 31, 2018. Net loss for the twelve months ended December 31, 2019 includes a write-off of $0.5 million of deferred finance fees related to refinancing and the loss on the sales of the Ardmore Seamaster and Ardmore Seafarer of $13.2 million. Net loss for the twelve months ended December 31, 2018 includes a write-off of $2.3 million of deferred finance fees due to sale and leaseback transactions and the held for sale loss on the Ardmore Seatrader of $6.4 million.

ASC has a gross margin of 26.50% and an operating margin of 2.50% while its profit margin remained -18.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained -250.10% for this year while earning per share for the next 5-years is expected to reach at 42.64%.

The company has 35.21M of outstanding shares and 32.98M shares were floated in the market. According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.98% from the mean of 20 days, -19.49% from mean of 50 days SMA and performed -16.50% from mean of 200 days price. Company’s performance for the week was 4.01%, -22.42% for month and YTD performance remained -31.16%.

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