Short Interest in CMB.TECH nv (NYSE:CMBT) Drops By 22.9%

CMB.TECH nv (NYSE:CMBT) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 2,911,730 shares, a decrease of 22.9% from the November 30th total of 3,776,431 shares. Based on an average daily volume of 1,815,228 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.5% of the shares of the stock are sold short. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 1,815,228 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in CMB.TECH during the 2nd quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of CMB.TECH during the third quarter worth $45,000. Sunbelt Securities Inc. purchased a new stake in shares of CMB.TECH during the third quarter valued at $56,000. Legal & General Group Plc grew its holdings 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 worth $59,000 after purchasing an additional 4,497 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of CMB.TECH in the third quarter worth about $94,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CMBT shares. Wall Street Zen raised shares of CMB.TECH from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of CMB.TECH in a report on Monday. Finally, Pareto Securities raised CMB.TECH to a “strong-buy” rating in a report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CMB.TECH currently has a consensus rating of “Moderate Buy”.

CMB.TECH Price Performance

CMB.TECH stock traded down $0.22 during mid-day trading on Tuesday, reaching $9.51. 1,341,379 shares of the company’s stock traded hands, compared to its average volume of 1,422,223. CMB.TECH has a 12-month low of $7.65 and a 12-month high of $12.00. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average of $9.85 and a two-hundred day moving average of $9.43. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 11.60 and a beta of -0.09.

CMB.TECH (NYSE:CMBT) last issued its quarterly earnings data on Wednesday, November 26th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $460.80 million during the quarter, compared to analysts’ expectations of $393.37 million. CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.

CMB.TECH Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, January 7th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, January 7th. CMB.TECH’s payout ratio is 4.88%.

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.