CMB.TECH (NYSE:CMBT) Shares Gap Up – Here’s Why

CMB.TECH nv (NYSE:CMBT) gapped up before the market opened on Tuesday . The stock had previously closed at $11.70, but opened at $12.20. CMB.TECH shares last traded at $12.2550, with a volume of 1,594,558 shares.

Wall Street Analysts Forecast Growth

CMBT has been the topic of a number of research analyst reports. Wall Street Zen upgraded CMB.TECH from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings upgraded CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Finally, Pareto Securities raised CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CMB.TECH has an average rating of “Buy”.

CMB.TECH Trading Up 4.1%

The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61. The company has a fifty day moving average of $10.41 and a 200-day moving average of $9.64. The firm has a market capitalization of $2.24 billion, a PE ratio of 14.86 and a beta of -0.08.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Wednesday, November 26th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%. The firm had revenue of $460.80 million during the quarter, compared to analysts’ expectations of $393.37 million.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, January 7th were issued a $0.05 dividend. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s dividend payout ratio is currently 8.54%.

Institutional Trading of CMB.TECH

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of CMB.TECH in the 3rd quarter valued at $1,485,000. Norges Bank bought a new position in CMB.TECH during the second quarter valued at about $2,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CMB.TECH by 328.4% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,793 shares of the company’s stock worth $233,000 after buying an additional 19,005 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CMB.TECH in the third quarter worth about $221,000. Finally, Alliancebernstein L.P. bought a new stake in shares of CMB.TECH during the 3rd quarter worth about $224,000.

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.