CMB.TECH (NYSE:CMBT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of CMB.TECH (NYSE:CMBT) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Two investment analysts have 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 currently has an average rating of “Buy”.

CMB.TECH Stock Up 4.2%

Shares of NYSE:CMBT opened at $19.49 on Friday. The business has a 50-day moving average price of $16.36 and a 200 day moving average price of $14.84. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 6.70 and a beta of 0.14. CMB.TECH has a 12-month low of $8.88 and a 12-month high of $19.61.

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

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CMB.TECH by 3,042.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock valued at $40,701,000 after buying an additional 4,107,637 shares during the period. Encompass Capital Advisors LLC boosted its holdings in CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after acquiring an additional 1,000,693 shares during the period. Goldman Sachs Group Inc. grew its position in CMB.TECH by 21.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,849,002 shares of the company’s stock valued at $27,493,000 after acquiring an additional 496,086 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in CMB.TECH in the 1st quarter valued at about $28,965,000. Finally, Norges Bank acquired a new position in CMB.TECH in the 4th quarter valued at about $21,956,000.

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.