CBL International (NASDAQ:BANL) Stock Falls 10.6% – Here’s Why

CBL International Limited (NASDAQ:BANL) dropped 10.6% during mid-day trading on Monday. The stock traded as low as $2.77 and last traded at $3.03. 25,771 shares traded hands during mid-day trading, an increase of 119% from the average daily volume of 11,751 shares. The stock had previously closed at $3.39.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered CBL International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Wall Street Zen upgraded shares of CBL International from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

CBL International Price Performance

The stock has a 50-day moving average of $7.68 and a 200-day moving average of $6.23.

CBL International (NASDAQ:BANL) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $197.79 million during the quarter.

CBL International Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 28th.

About CBL International

CBL International Limited is a marine transportation and marine fuel logistics company. The company provides bunkering services, which involve supplying fuel and related products to ocean-going vessels, and supports the movement and delivery of marine fuel through specialized maritime operations.

Its activities include the operation and chartering of bunker vessels used to transport and deliver fuel to ships. CBL International primarily serves the commercial shipping industry and operates in Asian maritime markets, including Singapore and other regional ports.

CBL International is headquartered in Singapore and is listed on the Nasdaq under the symbol BANL.