CMB.TECH (NYSE:CMBT) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of CMB.TECH (NYSE:CMBT) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

CMB.TECH Price Performance

CMBT stock opened at $19.49 on Friday. The stock’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $14.90. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56. CMB.TECH has a 1-year low of $8.88 and a 1-year high of $19.61. The stock has a market cap of $3.89 billion, a P/E ratio of 6.70 and a beta of 0.14.

CMB.TECH (NYSE:CMBT) last announced its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share (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%.

Institutional Trading of CMB.TECH

A number of large investors have recently bought and sold shares of CMBT. Goldman Sachs Group Inc. raised its stake in shares of CMB.TECH by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock valued at $2,252,000 after buying an additional 37,356 shares during the period. JPMorgan Chase & Co. increased its holdings in CMB.TECH by 3,978.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after acquiring an additional 29,998 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in CMB.TECH in the 2nd quarter valued at about $27,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in CMB.TECH during the second quarter valued at about $98,000.

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.