CMB.TECH (NYSE:CMBT) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings raised shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CMB.TECH currently has a consensus rating of “Buy”.

CMB.TECH Stock Down 2.3%

CMBT opened at $12.46 on Friday. CMB.TECH has a 12 month low of $7.78 and a 12 month high of $14.93. The firm’s fifty day simple moving average is $13.04 and its 200 day simple moving average is $11.13. The company has a quick ratio of 0.79, a current ratio of 0.86 and a debt-to-equity ratio of 1.80.

CMB.TECH (NYSE:CMBT) last announced its earnings results on Friday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). CMB.TECH had a return on equity of 6.25% and a net margin of 9.70%.The firm had revenue of $589.12 million for the quarter, compared to the consensus estimate of $449.43 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMBT. Mcguire Capital Advisors Inc. acquired a new position in shares of CMB.TECH during the fourth quarter valued at about $26,000. Raymond James Financial Inc. purchased a new position in CMB.TECH during the second quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in CMB.TECH during the fourth quarter worth about $29,000. Public Employees Retirement System of Ohio purchased a new position in CMB.TECH during the third quarter worth about $45,000. Finally, Sunbelt Securities Inc. purchased a new position in CMB.TECH during the third quarter worth about $56,000.

About CMB.TECH

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.