5 Best Shipping and Container Stocks To Buy

4. Ardmore Shipping Corp. (NYSE:ASC)

Number of Hedge Fund Holders: 15

Ardmore Shipping Corporation (NYSE:ASC) is a company based in Bermuda, specializing in the global seaborne transportation of petroleum products and chemicals. The company caters to oil majors, oil and chemical traders, as well as pooling service providers.

On November 8, Ardmore Shipping Corp. (NYSE:ASC) announced strong third-quarter results, posting adjusted earnings of $20.3 million or $0.49 per share. The company is currently benefiting from robust product and chemical tanker markets, and these conditions are anticipated to strengthen even further in the fourth quarter. Ardmore’s emphasis on effective cost management, favorable spot trading performance, and a solid liquidity position have strategically positioned the company for the anticipated growth in the upcoming winter market.

According to Insider Monkey’s data, 15 hedge funds were bullish on Ardmore Shipping Corporation (NYSE:ASC) at the end of September 2023, compared to 16 funds in the prior quarter. Chuck Royce’s Royce & Associates is the biggest position holder in the company, with 758,306 shares worth $9.86 million.