Price Action Report: What’s in Scorpio Tankers Inc. After Achieving 52 Week Low?

Price Action Report: What's in Scorpio Tankers Inc. After Achieving 52 Week Low?

The stock of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low and has $3.49 target or 8.00% below today’s $3.79 share price. The 6 months bearish chart indicates high risk for the $636.82 million company. The 1-year low was reported on Nov, 9 by If the $3.49 price target is reached, the company will be worth $50.95M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.41M shares traded hands. Scorpio Tankers Inc. (NYSE:STNG) has declined 33.99% since April 7, 2016 and is downtrending. It has underperformed by 38.77% the S&P500.

Scorpio Tankers Inc. (NYSE:STNG) Ratings Coverage

Out of 5 analysts covering Scorpio Tankers Inc. (NYSE:STNG), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Scorpio Tankers Inc. has been the topic of 8 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Scorpio Tankers Inc. (NYSE:STNG) earned “Buy” rating by Jefferies on Wednesday, July 27. Bank of America initiated it with “Buy” rating and $13.5 target price in Tuesday, July 21 report. UBS downgraded the shares of STNG in a report on Tuesday, July 26 to “Neutral” rating. The stock of Scorpio Tankers Inc. (NYSE:STNG) has “Hold” rating given on Tuesday, December 15 by Deutsche Bank. As per Friday, July 1, the company rating was upgraded by ABN Amro. Deutsche Bank upgraded Scorpio Tankers Inc. (NYSE:STNG) on Thursday, February 18 to “Buy” rating.

According to Zacks Investment Research, “Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. The Company’s initial fleet consists of three modern panamax tankers. Its vessels carry petroleum products and crude oil for integrated oil companies, oil traders, and other customers. Scorpio Tankers Inc. is headquartered in Monaco, Scorpio.”

STNG Company Profile

Scorpio Tankers Inc. (Scorpio Tankers), incorporated on July 1, 2009, is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Firm operates through four divisions: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.

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