Ardmore Shipping Corporation (NYSE: ASC) hits another New 52 week High

June 6, 2022

(24/7 Market News) Ardmore Shipping Corporation (NYSE:ASC) hit another 52 week high this morning, which it has constantly been doing for the past two months

Ardmore Shipping’s first quarter of 2022 highlights included; reporting a net loss of $7.9 million for the first quarter 2022, or $0.23 loss per basic and diluted share, as compared to a net loss of $8.5 million, or $0.26 loss per basic and diluted share, for the first quarter of 2021. Revenues grew from $45.6 million, for the first quarter 2021, to $63.4 million, for the first quarter 2021, an increase of $17.8 million. While first quarter 2022 spot revenue days hit 2,126 spot revenue days, compared to 2,096 for the same previous year quarter.

Other recent activity includes, on April 4, 2022, Ardmore announcing that it agreed to terms for the sale of three 2008-built MR product tankers to Leonhardt & Blumberg, for an aggregate price of $40 million, which, upon completion, is expected to generate approximately $15 million in net cash proceeds to Ardmore.

Ardmore Shipping has trended higher since bouncing off its 52 week low of $3.0699 in late January. It’s 20 day moving price average has been pretty solid support throughout this year’s move, with only a couple of brief breeches.

24/7 MARKET NEWS, INC Disclaimer
24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.