CMB.TECH (NYSE:CMBT) Reaches New 52-Week High – Here’s Why

CMB.TECH nv (NYSE:CMBT) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.91 and last traded at $19.2470, with a volume of 1448348 shares traded. The stock had previously closed at $19.49.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMBT shares. Wall Street Zen lowered shares of CMB.TECH from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

CMB.TECH Price Performance

The firm has a fifty day moving average of $16.57 and a 200 day moving average of $14.94. The company has a market capitalization of $3.84 billion, a P/E ratio of 6.61 and a beta of 0.14. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56.

CMB.TECH (NYSE:CMBT) last posted its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share (EPS) for the quarter. The business had revenue of $703.94 million for 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sigma Planning Corp grew its position in CMB.TECH by 2.2% in the 1st quarter. Sigma Planning Corp now owns 41,143 shares of the company’s stock worth $520,000 after purchasing an additional 886 shares during the period. Headlands Technologies LLC lifted its holdings in shares of CMB.TECH by 3.0% during the 4th quarter. Headlands Technologies LLC now owns 67,058 shares of the company’s stock valued at $647,000 after buying an additional 1,957 shares during the period. Mariner LLC boosted its stake in shares of CMB.TECH by 4.0% in the 4th quarter. Mariner LLC now owns 63,372 shares of the company’s stock worth $612,000 after buying an additional 2,439 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in CMB.TECH in the first quarter worth about $33,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in CMB.TECH in the fourth quarter worth about $26,000.

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.