CMB.TECH (NYSE:CMBT) Sees Strong Trading Volume – Time to Buy?

CMB.TECH nv (NYSE:CMBT) saw an uptick in trading volume on Thursday . 644,601 shares were traded during trading, a decline of 31% from the previous session’s volume of 940,804 shares.The stock last traded at $9.9540 and had previously closed at $9.64.

Wall Street Analyst Weigh In

CMBT has been the topic of several research analyst reports. Wall Street Zen lowered shares of CMB.TECH from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d+)” rating on shares of CMB.TECH in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

CMB.TECH Stock Up 5.3%

The business’s fifty day moving average is $9.44 and its two-hundred day moving average is $9.25. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.19 and a beta of -0.02. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98.

CMB.TECH (NYSE:CMBT) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $259.00 million.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, October 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 2nd. CMB.TECH’s dividend payout ratio is presently 2.42%.

Institutional Trading of CMB.TECH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its holdings in shares of CMB.TECH by 9.6% in the first quarter. Envestnet Asset Management Inc. now owns 72,292 shares of the company’s stock valued at $656,000 after purchasing an additional 6,304 shares during the period. SBI Securities Co. Ltd. grew its position in CMB.TECH by 27.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company’s stock valued at $63,000 after buying an additional 1,496 shares during the last quarter. XTX Topco Ltd acquired a new position in CMB.TECH in the 1st quarter valued at $147,000. 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 worth $2,252,000 after buying an additional 37,356 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of CMB.TECH by 3,978.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after acquiring an additional 29,998 shares during the period.

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.