Euronav (NYSE:CMBT) Shares Gap Up – Here’s What Happened

Shares of Euronav NV (NYSE:CMBT) gapped up before the market opened on Friday . The stock had previously closed at $8.01, but opened at $8.39. Euronav shares last traded at $8.58, with a volume of 17,319 shares traded.

Euronav Stock Up 8.7 %

The firm has a market cap of $1.69 billion, a P/E ratio of 1.47 and a beta of 0.05. The firm’s fifty day moving average is $9.36 and its 200 day moving average is $11.39. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.22 and a current ratio of 1.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Euronav in the 4th quarter worth about $5,113,000. Uniplan Investment Counsel Inc. acquired a new stake in Euronav during the fourth quarter worth approximately $4,261,000. Foundry Partners LLC bought a new position in Euronav during the 4th quarter worth $2,508,000. Vident Advisory LLC acquired a new stake in shares of Euronav during the 4th quarter worth $1,124,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Euronav in the fourth quarter worth $655,000.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.