Scorpio Tankers Inc. (STNG) Short Interest Up 18.1% in January

Scorpio Tankers Inc. (NYSE:STNG) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 19,575,050 shares, an increase of 18.1% from the January 12th total of 16,574,941 shares. Based on an average daily volume of 4,072,084 shares, the days-to-cover ratio is presently 4.8 days. Approximately 6.6% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently modified their holdings of STNG. Bank of New York Mellon Corp lifted its holdings in Scorpio Tankers by 232.0% during the 4th quarter. Bank of New York Mellon Corp now owns 16,105,736 shares of the shipping company’s stock worth $49,123,000 after purchasing an additional 11,255,133 shares during the last quarter. Monarch Alternative Capital LP acquired a new stake in Scorpio Tankers during the 3rd quarter worth approximately $32,371,000. Lasry Marc acquired a new stake in Scorpio Tankers during the 3rd quarter worth approximately $19,205,000. FMR LLC lifted its holdings in Scorpio Tankers by 160.9% during the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after purchasing an additional 4,615,440 shares during the last quarter. Finally, Blackstone Group L.P. acquired a new stake in Scorpio Tankers during the 3rd quarter worth approximately $14,310,000. Institutional investors own 60.00% of the company’s stock.

Scorpio Tankers (NYSE:STNG) opened at $2.36 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03. Scorpio Tankers has a one year low of $2.24 and a one year high of $4.79. The company has a market capitalization of $744.81, a P/E ratio of -2.99 and a beta of 1.29.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The business had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. research analysts anticipate that Scorpio Tankers will post -0.4 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price target on Scorpio Tankers from $5.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday. ValuEngine downgraded Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Jefferies Group restated a “buy” rating and issued a $5.50 price target on shares of Scorpio Tankers in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Finally, Stifel Nicolaus set a $7.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research note on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. Scorpio Tankers presently has a consensus rating of “Buy” and a consensus target price of $6.00.

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Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

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