CMB.TECH (NYSE:CMBT) Reaches New 52-Week High – Still a Buy?

CMB.TECH nv (NYSE:CMBT)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $19.94 and last traded at $19.9370, with a volume of 249483 shares trading hands. The stock had previously closed at $19.56.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMBT shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CMB.TECH in a report on Tuesday, August 25th. Wall Street Zen cut CMB.TECH from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, CMB.TECH currently has an average rating of “Buy”.

CMB.TECH Trading Up 1.7%

The business has a 50-day moving average price of $17.04 and a two-hundred day moving average price of $15.13. The company has a market cap of $3.97 billion, a P/E ratio of 6.84 and a beta of 0.14. 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 announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.26 EPS for the quarter. The firm 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%.

Hedge Funds Weigh In On CMB.TECH

Large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC grew its holdings in CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock worth $44,275,000 after acquiring an additional 1,000,693 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of CMB.TECH in the 1st quarter worth $28,965,000. Norges Bank acquired a new stake in shares of CMB.TECH during the fourth quarter worth $21,956,000. Renaissance Technologies LLC grew its stake in shares of CMB.TECH by 288.5% during the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock worth $17,815,000 after purchasing an additional 1,045,800 shares during the period. Finally, Sagil Capital LLP increased its holdings in CMB.TECH by 133.5% in the fourth quarter. Sagil Capital LLP now owns 1,397,397 shares of the company’s stock valued at $13,485,000 after purchasing an additional 798,827 shares during the last quarter.

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.

In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.

The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.