Scorpio Tankers (STNG) : 9 Wall Street analysts covering Scorpio Tankers (STNG) believe that the average level the stock could reach for the short term is $9.19. The maximum price target given is $13 and the minimum target for short term is around $7, hence the standard deviation is calculated at $1.83.
Scorpio Tankers (STNG) stated gains of 557,414 shares or 5.1% in the short interest. The short interest registered from 10,845,089 on June 15,2016 to 11,402,503 on June 30,2016. In terms of floated shares, the shorted positions stood at 7.1%. The stock has been averaging 3,363,859 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Major Brokerage house, ABN Amro upgrades its ratings on Scorpio Tankers (NYSE:STNG). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on July 1, 2016.
Scorpio Tankers (NYSE:STNG): The stock was completely flat for the day, closing at $4.58 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $4.62, the stock touched an intraday high of $4.64 and a low of $4.52. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $4.58. The total trading volume on Thursday was 3,340,602.
Scorpio Tankers Inc. is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Companys fleet consists of 66 wholly owned tankers (10 LR2 tankers, two LR1 tankers, 15 Handymax tankers and 39 MR tankers) with a weighted average age of approximately 1.1 years and 20 time chartered-in tankers, which it operate (seven Handymax tankers, three MR tankers, five LR1 tankers and five LR2 tankers). In addition, the Company has contracts for the construction of 14 newbuilding product tankers (six MR tankers and eight LR2 tankers) (Newbuilding Program). The Companys total oil tanker fleet (crude, products and product/chemical tankers) consisted of 3,138 ships with a combined capacity of 407 million deadweight tonnage.