CMB.TECH (NYSE:CMBT) Hits New 1-Year High – Still a Buy?

CMB.TECH nv (NYSE:CMBT) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.98 and last traded at $19.00, with a volume of 116015 shares changing hands. The stock had previously closed at $18.75.

Analysts Set New Price Targets

A number of research firms have weighed in on CMBT. Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of CMB.TECH in a research note 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

CMB.TECH Trading Down 0.9%

The firm has a market capitalization of $3.71 billion, a PE ratio of 6.38 and a beta of 0.14. The stock’s 50-day moving average price is $16.16 and its 200 day moving average price is $14.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.12 and a quick ratio of 0.85.

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

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors and hedge funds have recently bought and sold shares of CMBT. Mcguire Capital Advisors Inc. purchased a new stake in shares of CMB.TECH in the 4th quarter worth $26,000. Raymond James Financial Inc. purchased a new position in shares of CMB.TECH during the second quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of CMB.TECH during the fourth quarter valued at $29,000. Valley Wealth Managers Inc. purchased a new position in shares of CMB.TECH during the first quarter valued at $33,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of CMB.TECH in the third quarter valued at about $45,000.

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.