CMB.TECH (NYSE:CMBT) Shares Down 8.9% – Here’s Why

CMB.TECH nv (NYSE:CMBT)’s share price dropped 8.9% during trading on Wednesday. The company traded as low as $19.63 and last traded at $18.9370. Approximately 646,395 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,556,089 shares. The stock had previously closed at $20.79.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CMBT shares. Wall Street Zen raised shares of CMB.TECH from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CMB.TECH in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

CMB.TECH Stock Performance

The stock has a fifty day moving average of $18.72 and a 200-day moving average of $16.06. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.79 billion, a P/E ratio of 6.52 and a beta of 0.23.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share for the quarter. CMB.TECH had a net margin of 37.19% and a return on equity of 30.02%. The business had revenue of $703.94 million for the quarter.

CMB.TECH Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Friday, October 16th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, October 16th. CMB.TECH’s dividend payout ratio (DPR) is currently 12.03%.

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors have recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new position in CMB.TECH during the first quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of CMB.TECH in the 4th quarter valued at approximately $29,000. Integrated Wealth Concepts LLC bought a new position in CMB.TECH in the 2nd quarter valued at approximately $46,000. Optiver Holding B.V. increased its holdings in shares of CMB.TECH by 145.7% during the first quarter. Optiver Holding B.V. now owns 12,473 shares of the company’s stock worth $158,000 after buying an additional 7,397 shares in the last quarter. Finally, Everstar Asset Management LLC acquired a new stake in shares of CMB.TECH during the 1st quarter valued at $191,000.

About CMB.TECH

CMB.TECH is a diversified maritime and cleantech company headquartered in Antwerp, Belgium. The company develops, owns and operates commercial vessels and is focused on reducing emissions in shipping through the use of alternative fuels and related technologies, including hydrogen and ammonia.

Its maritime activities include dry bulk carriers, container ships, chemical tankers, offshore wind service vessels and other specialized vessels. CMB.TECH also provides hydrogen and ammonia fuel solutions, including the development of dual-fuel vessels, fuel infrastructure and related applications for the maritime, industrial and transportation sectors.

The company serves international customers and operates across global shipping markets.