Short Interest in CMB.TECH nv (NYSE:CMBT) Decreases By 12.7%

CMB.TECH nv (NYSE:CMBT) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 2,620,885 shares, a drop of 12.7% from the December 31st total of 3,001,091 shares. Based on an average trading volume of 3,130,507 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 3,130,507 shares, the short-interest ratio is presently 0.8 days.

CMB.TECH Stock Down 0.5%

Shares of NYSE CMBT opened at $12.98 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.61 and a current ratio of 0.73. CMB.TECH has a 1 year low of $7.65 and a 1 year high of $13.16. The stock’s 50-day simple moving average is $10.68 and its 200-day simple moving average is $9.76. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 15.82 and a beta of -0.08.

CMB.TECH (NYSE:CMBT) last issued its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%. The business had revenue of $460.80 million during the quarter, compared to analysts’ expectations of $393.37 million.

CMB.TECH Announces Dividend

The business also recently declared a special dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, January 7th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. CMB.TECH’s dividend payout ratio is currently 8.54%.

Institutional Investors Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently modified their holdings of CMBT. Goldman Sachs Group Inc. lifted its position in shares of CMB.TECH by 17.7% during the first 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in CMB.TECH by 3,978.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after buying an additional 29,998 shares during the last quarter. Legal & General Group Plc grew its position in shares of CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after acquiring an additional 4,497 shares in the last quarter. Norges Bank bought a new stake in shares of CMB.TECH in the 2nd quarter valued at approximately $2,847,000. Finally, Raymond James Financial Inc. bought a new stake in shares of CMB.TECH in the 2nd quarter valued at approximately $27,000.

Wall Street Analysts Forecast Growth

CMBT has been the topic of several research reports. Weiss Ratings raised CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Pareto Securities upgraded CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. Finally, Wall Street Zen lowered CMB.TECH from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, CMB.TECH presently has an average rating of “Buy”.

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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.