Scorpio Tankers (STNG) : The short interest in Scorpio Tankers (STNG) has increased from 11,456,524 to 12,267,647 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 2,400,389 shares are traded daily in the stock and only 5 days are left for the shorts to cover. The short open interest is 7.6% of the total shares in the hands of the public. The shorts in the stock have gone up by 811,123 shares, which is an increase of 7.1% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Scorpio Tankers (NYSE:STNG): The stock opened at $5.25 on Wednesday but the bulls could not build on the opening and the stock topped out at $5.27 for the day. The stock traded down to $4.74 during the day, due to lack of any buying support eventually closed down at $4.89 with a loss of -6.86% for the day. The stock had closed at $5.25 on the previous day. The total traded volume was 7,341,293 shares.
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.