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

Shares of CMB.TECH nv (NYSE:CMBT) gapped down prior to trading on Monday . The stock had previously closed at $15.74, but opened at $15.18. CMB.TECH shares last traded at $15.42, with a volume of 99,208 shares.

Wall Street Analyst Weigh In

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

CMB.TECH Trading Down 2.1%

The stock has a market capitalization of $3.07 billion, a P/E ratio of 9.12 and a beta of 0.12. The business has a 50 day simple moving average of $15.28 and a 200-day simple moving average of $13.76. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95.

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

CMB.TECH Announces Dividend

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

Hedge Funds Weigh In On CMB.TECH

Several hedge funds have recently made changes to their positions in CMBT. Goldman Sachs Group Inc. raised its holdings in shares of CMB.TECH by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock worth $2,252,000 after purchasing an additional 37,356 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in CMB.TECH by 3,978.5% during the second quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after buying an additional 29,998 shares in the last quarter. Legal & General Group Plc grew its position in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after buying an additional 4,497 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CMB.TECH in the second quarter worth approximately $27,000. Finally, Orion Porfolio Solutions LLC bought a new position in shares of CMB.TECH in the second quarter valued at $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.