CMB.TECH (NYSE:CMBT) Shares Gap Down – Should You Sell?

CMB.TECH nv (NYSE:CMBT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.36, but opened at $14.57. CMB.TECH shares last traded at $14.64, with a volume of 281,019 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on CMBT shares. Berenberg Bank raised CMB.TECH to a “strong-buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, CMB.TECH has a consensus rating of “Buy”.

CMB.TECH Trading Down 2.3%

The firm’s 50-day simple moving average is $14.12 and its 200-day simple moving average is $12.49. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $2.88 billion, a PE ratio of 8.56 and a beta of 0.10.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $1.00. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%. The business had revenue of $519.63 million during the quarter, compared to analyst estimates of $422.43 million.

CMB.TECH Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is presently 36.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMBT. Goldman Sachs Group Inc. raised its position in CMB.TECH by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock valued at $2,252,000 after purchasing an additional 37,356 shares during the last quarter. JPMorgan Chase & Co. raised its position in CMB.TECH by 3,978.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock valued at $277,000 after purchasing an additional 29,998 shares during the last quarter. Legal & General Group Plc raised its position in CMB.TECH by 221.3% during the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after purchasing an additional 4,497 shares during the last quarter. Raymond James Financial Inc. bought a new position in CMB.TECH during the 2nd quarter valued at approximately $27,000. Finally, Orion Porfolio Solutions LLC bought a new position in CMB.TECH during the 2nd quarter valued at approximately $98,000.

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.