Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, July 11th.

STNG has been the topic of several other research reports. Bank of America Corporation raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Friday, May 12th. Cowen and Company reissued an “outperform” rating and set a $7.00 price objective (down previously from $10.00) on shares of Scorpio Tankers in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price objective on shares of Scorpio Tankers in a research note on Thursday, May 25th. Credit Suisse Group set a $7.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Finally, Seaport Global Securities reissued a “buy” rating and set a $7.50 price objective on shares of Scorpio Tankers in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Scorpio Tankers has an average rating of “Buy” and an average price target of $6.44.

Scorpio Tankers (NASDAQ STNG) traded up 0.28% during midday trading on Tuesday, hitting $3.55. 1,003,339 shares of the company were exchanged. The firm’s market capitalization is $577.62 million. The stock has a 50 day moving average of $3.81 and a 200 day moving average of $4.01. Scorpio Tankers has a 1-year low of $3.42 and a 1-year high of $5.53.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Scorpio Tankers by 4.9% in the fourth quarter. State Street Corp now owns 3,021,986 shares of the shipping company’s stock valued at $13,688,000 after buying an additional 142,519 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Scorpio Tankers during the fourth quarter valued at about $244,000. Norges Bank purchased a new position in shares of Scorpio Tankers during the fourth quarter valued at about $2,881,000. Teachers Advisors LLC increased 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 buying an additional 6,788 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Scorpio Tankers during the first quarter valued at about $158,000.

About Scorpio Tankers

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).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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