CMB.TECH (NYSE:CMBT) Stock Dropped to Hold by Wall Street Zen

Wall Street Zen downgraded shares of CMB.TECH (NYSE:CMBT) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded CMB.TECH from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, CMB.TECH presently has a consensus rating of “Strong Buy”.

CMB.TECH Stock Performance

Shares of CMBT stock opened at $18.46 on Friday. CMB.TECH has a 1-year low of $9.03 and a 1-year high of $21.19. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.35 and a beta of 0.23. The stock’s fifty day simple moving average is $18.96 and its 200-day simple moving average is $16.36.

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

CMB.TECH Announces Dividend

The business also recently announced a special dividend, which was paid on Thursday, October 22nd. Shareholders of record on Friday, October 16th were given a $0.43 dividend. The ex-dividend date was Friday, October 16th. CMB.TECH’s dividend payout ratio is presently 16.84%.

Hedge Funds Weigh In On CMB.TECH

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new position in shares of CMB.TECH during the 1st quarter worth $28,965,000. Renaissance Technologies LLC raised its holdings in shares of CMB.TECH by 288.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after purchasing an additional 1,045,800 shares in the last quarter. Encompass Capital Advisors LLC raised its holdings in shares of 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 purchasing an additional 1,000,693 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of CMB.TECH by 526.9% in the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock valued at $13,571,000 after purchasing an additional 901,688 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC lifted its stake in shares of CMB.TECH by 528.9% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 559,729 shares of the company’s stock valued at $7,831,000 after purchasing an additional 470,726 shares during the last quarter.

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates a fleet of commercial vessels serving international trade, with activities spanning dry bulk shipping, container shipping, chemical tankers and other specialized maritime segments.

In addition to conventional shipping, CMB.TECH develops and deploys low-carbon technologies for maritime and industrial applications. Its portfolio includes vessels and equipment designed to operate on alternative fuels such as hydrogen and ammonia, as well as related hydrogen-fueled trucks, locomotives and marine applications.