CMB.TECH (NYSE:CMBT) Shares Gap Up – Time to Buy?

CMB.TECH nv (NYSE:CMBT)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.38, but opened at $9.69. CMB.TECH shares last traded at $9.66, with a volume of 333,552 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of CMB.TECH from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th.

CMB.TECH Stock Performance

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.84 and a current ratio of 0.92. The stock’s 50-day moving average is $9.03 and its 200 day moving average is $9.10. The firm has a market cap of $1.88 billion, a P/E ratio of 7.78 and a beta of 0.04.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). CMB.TECH had a net margin of 22.69% and a return on equity of 6.02%. The firm had revenue of $387.81 million during the quarter, compared to the consensus estimate of $259.00 million.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, October 2nd will be given a $0.05 dividend. The ex-dividend date is Thursday, October 2nd.

Hedge Funds Weigh In On CMB.TECH

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in CMB.TECH in the 2nd quarter worth $27,000. State of Wyoming acquired a new position in CMB.TECH in the 4th quarter worth $37,000. Legal & General Group Plc boosted its stake in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after purchasing an additional 4,497 shares during the period. SBI Securities Co. Ltd. boosted its stake in CMB.TECH by 27.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company’s stock worth $63,000 after purchasing an additional 1,496 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new position in CMB.TECH in the 2nd quarter worth $98,000.

CMB.TECH Company Profile

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.