CMB.TECH (NYSE:CMBT) Sees Strong Trading Volume – Here’s What Happened

by · The Cerbat Gem

CMB.TECH nv (NYSE:CMBT – Get Free Report) shares saw strong trading volume on Wednesday . 697,120 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 1,030,930 shares.The stock last traded at $10.28 and had previously closed at $10.15.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of CMB.TECH in a report on Monday. Wall Street Zen cut CMB.TECH from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

View Our Latest Stock Report on CMB.TECH

CMB.TECH Price Performance

The company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.84. The firm has a market cap of $1.99 billion, a P/E ratio of 8.25 and a beta of -0.02. The company has a fifty day moving average of $9.54 and a 200-day moving average of $9.29.

CMB.TECH (NYSE:CMBT – Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). CMB.TECH had a net margin of 22.69% and a return on equity of 6.02%. The company had revenue of $387.81 million for the quarter, compared to the consensus estimate of $259.00 million.

CMB.TECH Announces Dividend

The company also recently declared a special dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, October 2nd. CMB.TECH’s dividend payout ratio (DPR) is presently 2.42%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CMBT. Folketrygdfondet bought a new stake in shares of CMB.TECH during the 3rd quarter valued at about $51,651,000. Vanguard Group Inc. grew its position 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 worth $40,701,000 after buying an additional 4,107,637 shares during the period. Marshall Wace LLP purchased a new position in shares of CMB.TECH during the third quarter valued at approximately $17,428,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CMB.TECH in the 3rd quarter worth approximately $12,024,000. Finally, Bank of America Corp DE boosted its holdings in CMB.TECH by 3,505.8% in the third quarter. Bank of America Corp DE now owns 748,810 shares of the company’s stock worth $7,031,000 after acquiring an additional 728,043 shares in the last quarter.

About CMB.TECH

(Get Free Report)

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.

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