Scorpio Tankers Inc. (NASDAQ:STNG) shares were down 7.5% during trading on Tuesday . The company traded as low as $3.69 and last traded at $3.72. Approximately 4,975,484 shares traded hands during trading, an increase of 98% from the average daily volume of 2,512,550 shares. The stock had previously closed at $4.02.

Several research firms recently issued reports on STNG. Bank of America Corporation raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, May 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.50 price target (down from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Wednesday, May 24th. Seaport Global Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Finally, BidaskClub cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.44.

The company’s market cap is $605.28 million. The stock’s 50 day moving average is $3.65 and its 200-day moving average is $3.96.

Several institutional investors and hedge funds have recently bought and sold shares of STNG. Teachers Advisors LLC boosted its position in shares of Scorpio Tankers by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 271,668 shares of the shipping company’s stock valued at $1,231,000 after acquiring an additional 6,788 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Scorpio Tankers in the first quarter valued at approximately $158,000. Acadian Asset Management LLC bought a new stake in shares of Scorpio Tankers in the first quarter valued at approximately $1,240,000. Janney Montgomery Scott LLC boosted its position in shares of Scorpio Tankers by 10.8% in the first quarter. Janney Montgomery Scott LLC now owns 178,367 shares of the shipping company’s stock valued at $792,000 after acquiring an additional 17,392 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Scorpio Tankers by 48.8% in the first quarter. Russell Investments Group Ltd. now owns 1,739,458 shares of the shipping company’s stock valued at $7,721,000 after acquiring an additional 570,834 shares during the period.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/09/05/scorpio-tankers-inc-stng-shares-down-7-5.html.

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).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.