CMB.TECH (NYSE:CMBT) Shares Gap Down – What’s Next?

CMB.TECH nv (NYSE:CMBT)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $15.36, but opened at $14.57. CMB.TECH shares last traded at $14.64, with a volume of 281,019 shares.

Wall Street Analyst Weigh In

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

CMB.TECH Price Performance

The stock has a market capitalization of $2.99 billion, a PE ratio of 8.86 and a beta of 0.10. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average price is $13.98 and its 200-day moving average price is $12.38.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $1.00. The firm had revenue of $519.63 million during the quarter, compared to analyst estimates of $422.43 million. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%.

CMB.TECH Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is presently 10.65%.

Hedge Funds Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently made changes to their positions in CMBT. Mcguire Capital Advisors Inc. bought a new position in shares of CMB.TECH during the 4th quarter worth $26,000. Raymond James Financial Inc. bought a new position in shares of CMB.TECH during the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of CMB.TECH during the 4th quarter worth $29,000. Valley Wealth Managers Inc. purchased a new position in shares of CMB.TECH in the 1st quarter valued at $33,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of CMB.TECH in the 3rd quarter valued at $45,000.

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.