CMB.TECH (NYSE:CMBT) Sees Large Volume Increase – Here’s What Happened

Shares of CMB.TECH nv (NYSE:CMBT) saw unusually-strong trading volume on Wednesday . Approximately 697,120 shares changed hands during trading, a decline of 32% from the previous session’s volume of 1,030,930 shares.The stock last traded at $10.28 and had previously closed at $10.15.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CMB.TECH in a research report on Monday. Wall Street Zen cut CMB.TECH from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

CMB.TECH Trading Up 0.9%

The stock has a market cap of $1.99 billion, a P/E ratio of 8.25 and a beta of -0.02. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 1.98. The business’s fifty day simple moving average is $9.54 and its 200 day simple moving average is $9.29.

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

CMB.TECH Announces Dividend

The firm also recently declared a special dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, October 2nd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, October 2nd. CMB.TECH’s payout ratio is currently 2.42%.

Institutional Investors Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently bought and sold shares of CMBT. Raymond James Financial Inc. acquired a new position in CMB.TECH during the second quarter worth $27,000. Public Employees Retirement System of Ohio bought a new stake in CMB.TECH in the third quarter valued at approximately $45,000. Sunbelt Securities Inc. acquired a new stake in shares of CMB.TECH in the third quarter valued at approximately $56,000. Legal & General Group Plc increased its holdings in shares of CMB.TECH by 221.3% during the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after acquiring an additional 4,497 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in CMB.TECH in the 3rd quarter valued at $94,000.

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.