CMB.TECH (NYSE:CMBT) Upgraded at Wall Street Zen

CMB.TECH (NYSE:CMBT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also weighed in on CMBT. Weiss Ratings raised CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Pareto Securities upgraded CMB.TECH to a “strong-buy” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

CMB.TECH Trading Down 0.2%

NYSE CMBT opened at $11.50 on Friday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 14.02 and a beta of -0.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61. CMB.TECH has a 12 month low of $7.65 and a 12 month high of $11.85. The company’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $9.55.

CMB.TECH (NYSE:CMBT) last released its earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.The company had revenue of $460.80 million during the quarter, compared to the consensus estimate of $393.37 million.

Institutional Investors Weigh In On CMB.TECH

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of CMB.TECH during the second quarter valued at $2,847,000. SG Americas Securities LLC acquired a new stake in CMB.TECH during the 3rd quarter worth about $1,485,000. Blue Trust Inc. boosted its holdings in shares of CMB.TECH by 142.0% in the third quarter. Blue Trust Inc. now owns 12,245 shares of the company’s stock worth $115,000 after buying an additional 7,186 shares during the period. Svenska Handelsbanken AB publ purchased a new position in shares of CMB.TECH in the third quarter worth approximately $174,000. Finally, GSA Capital Partners LLP purchased a new position in shares of CMB.TECH in the third quarter worth approximately $153,000.

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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.