CMB.TECH (NYSE:CMBT) Shares Gap Up – What’s Next?

Shares of CMB.TECH nv (NYSE:CMBT) gapped up prior to trading on Tuesday . The stock had previously closed at $11.70, but opened at $12.20. CMB.TECH shares last traded at $12.2550, with a volume of 1,594,558 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMBT. Wall Street Zen upgraded CMB.TECH from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Pareto Securities raised shares of CMB.TECH to a “strong-buy” rating in a report on Friday, November 28th. Finally, Weiss Ratings upgraded shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

CMB.TECH Price Performance

The firm has a market cap of $2.24 billion, a P/E ratio of 14.86 and a beta of -0.08. The stock’s 50-day moving average is $10.41 and its 200-day moving average is $9.64. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.96.

CMB.TECH (NYSE:CMBT) last posted 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 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 analyst estimates of $393.37 million.

CMB.TECH Dividend Announcement

The company also recently declared a special dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, January 7th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s payout ratio is currently 8.54%.

Institutional Trading of CMB.TECH

Several institutional investors have recently modified their holdings of the company. Folketrygdfondet bought a new stake in shares of CMB.TECH during the third quarter valued at approximately $51,651,000. Vanguard Group Inc. boosted its stake in CMB.TECH by 3,042.0% during the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after buying an additional 4,107,637 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in CMB.TECH during the third quarter worth $22,386,000. Marshall Wace LLP bought a new stake in CMB.TECH in the 3rd quarter valued at $17,428,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of CMB.TECH in the 3rd quarter valued at $12,024,000.

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.