CMB.TECH (NYSE:CMBT) Downgraded to “Sell” Rating by Wall Street Zen

CMB.TECH (NYSE:CMBT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CMBT has been the subject of a number of other reports. Weiss Ratings upgraded shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 14th. Pareto Securities raised shares of CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, CMB.TECH currently has an average rating of “Buy”.

CMB.TECH Stock Performance

Shares of CMBT stock opened at $13.04 on Friday. CMB.TECH has a fifty-two week low of $7.65 and a fifty-two week high of $13.16. The stock’s 50-day moving average is $10.62 and its two-hundred day moving average is $9.73. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61. The firm has a market cap of $2.51 billion, a P/E ratio of 15.90 and a beta of -0.08.

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

Institutional Trading of CMB.TECH

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in CMB.TECH by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock valued at $2,252,000 after buying an additional 37,356 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in CMB.TECH by 3,978.5% during the second quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock valued at $277,000 after acquiring an additional 29,998 shares during the period. Legal & General Group Plc grew its position in shares of CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after purchasing an additional 4,497 shares during the last quarter. Norges Bank bought a new position in shares of CMB.TECH in the second quarter worth about $2,847,000. Finally, Raymond James Financial Inc. bought a new position in shares of CMB.TECH in the second quarter worth about $27,000.

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.