CMB.TECH (NYSE:CMBT) Shares Gap Up – Here’s Why

CMB.TECH nv (NYSE:CMBT) shares 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 trading hands.

Wall Street Analysts Forecast Growth

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

CMB.TECH Price Performance

The stock has a market cap of $2.48 billion, a PE ratio of 15.76 and a beta of -0.08. 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 company’s fifty day moving average is $10.56 and its 200 day moving average is $9.70.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings data 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). The business had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million. CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.

CMB.TECH Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, January 15th. Shareholders 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 Investors Weigh In On CMB.TECH

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in CMB.TECH during the 2nd quarter worth approximately $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of CMB.TECH during the third quarter valued at approximately $45,000. Sunbelt Securities Inc. acquired a new position in shares of CMB.TECH during the third quarter worth $56,000. Legal & General Group Plc boosted its stake 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 period. Finally, Vise Technologies Inc. acquired a new stake in CMB.TECH during 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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.