What’s Propelling Scorpio Tankers Inchares (NYSE:STNG) After Lower Shorts Reported?

June 8, 2018 - By Hazel Jackson

Scorpio Tankers Inc. (NYSE:STNG) Logo

The stock of Scorpio Tankers Inchares (NYSE:STNG) registered a decrease of 3.71% in short interest. STNG’s total short interest was 25.00 million shares in June as published by FINRA. Its down 3.71% from 25.97M shares, reported previously. With 3.26 million shares average volume, it will take short sellers 8 days to cover their STNG’s short positions.

It closed at $3.03 lastly. It is down 29.97% since June 8, 2017 and is downtrending. It has underperformed by 42.54% the S&P500.

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. The company has market cap of $1.01 billion. As of March 15, 2017, it owned 78 tankers comprising 22 LR2 tankers, 14 Handymax tankers, and 42 MR tankers with an average age of approximately 2.3 years; and 19 time chartered-in tankers, including 9 Handymax, 8 MR, 1 LR1, and 1 LR2 tankers. It currently has negative earnings.

Scorpio Tankers Inc. (NYSE:STNG) Ratings Coverage

Among 7 analysts covering Scorpio Tankers Inc (NYSE:STNG), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Scorpio Tankers Inc had 8 analyst reports since December 18, 2017 according to SRatingsIntel. The rating was maintained by Credit Suisse with “Outperform” on Thursday, February 15. The firm has “Overweight” rating by Morgan Stanley given on Wednesday, April 25. On Monday, December 18 the stock rating was initiated by Jefferies with “Buy”. The rating was maintained by Morgan Stanley on Monday, February 12 with “Overweight”. The stock of Scorpio Tankers Inc. (NYSE:STNG) earned “Buy” rating by Stifel Nicolaus on Wednesday, January 24. On Monday, March 19 the stock rating was maintained by Bank of America with “Buy”. The stock has “Buy” rating by DNB Markets on Wednesday, April 25.

Scorpio Tankers Inc. (NYSE:STNG) Ratings Chart

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