CMB.TECH (NYSE:CMBT) Stock Price Down 8.9% – What’s Next?

CMB.TECH nv (NYSE:CMBT)’s share price fell 8.9% during mid-day trading on Wednesday. The stock traded as low as $19.63 and last traded at $18.9370. 646,395 shares changed hands during trading, a decline of 58% from the average daily volume of 1,556,089 shares. The stock had previously closed at $20.79.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings upgraded shares of CMB.TECH from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

CMB.TECH Trading Down 5.7%

The firm has a 50 day moving average of $18.81 and a 200 day moving average of $16.15. The firm has a market cap of $3.57 billion, a PE ratio of 6.16 and a beta of 0.23. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56.

CMB.TECH (NYSE:CMBT) last released its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share (EPS) for the quarter. The business had revenue of $703.94 million during the quarter. CMB.TECH had a return on equity of 30.02% and a net margin of 37.19%.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, October 22nd. Investors of record on Friday, October 16th will be paid a $0.43 dividend. The ex-dividend date is Friday, October 16th. CMB.TECH’s payout ratio is currently 16.84%.

Hedge Funds Weigh In On CMB.TECH

Several large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of CMB.TECH during the first quarter valued at about $28,965,000. Fearnley Asset Management AS bought a new position in shares of CMB.TECH in the fourth quarter valued at approximately $10,284,000. Renaissance Technologies LLC boosted its position in shares of CMB.TECH by 288.5% in the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the period. Encompass Capital Advisors LLC boosted its position in shares of CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after acquiring an additional 1,000,693 shares during the period. Finally, Bank of America Corp DE grew its stake in CMB.TECH by 526.9% during the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock valued at $13,571,000 after acquiring an additional 901,688 shares in the last quarter.

About CMB.TECH

CMB.TECH is a diversified maritime and cleantech company headquartered in Antwerp, Belgium. The company develops, owns and operates commercial vessels and is focused on reducing emissions in shipping through the use of alternative fuels and related technologies, including hydrogen and ammonia.

Its maritime activities include dry bulk carriers, container ships, chemical tankers, offshore wind service vessels and other specialized vessels. CMB.TECH also provides hydrogen and ammonia fuel solutions, including the development of dual-fuel vessels, fuel infrastructure and related applications for the maritime, industrial and transportation sectors.

The company serves international customers and operates across global shipping markets.