CMB.TECH (NYSE:CMBT) Reaches New 52-Week High – What’s Next?

CMB.TECH nv (NYSE:CMBT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $13.16 and last traded at $12.5980, with a volume of 2806706 shares changing hands. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

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

CMB.TECH Trading Down 1.7%

The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average price of $10.73 and a two-hundred day moving average price of $9.79.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH in the second quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in CMB.TECH during the 3rd quarter worth approximately $45,000. Sunbelt Securities Inc. purchased a new position in CMB.TECH in the 3rd quarter worth approximately $56,000. Legal & General Group Plc grew its position in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after acquiring an additional 4,497 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of CMB.TECH during the third quarter valued at approximately $94,000.

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.