Short Interest in CMB.TECH nv (NYSE:CMBT) Decreases By 22.0%

CMB.TECH nv (NYSE:CMBT) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 1,440,682 shares, a drop of 22.0% from the February 26th total of 1,846,772 shares. Based on an average daily trading volume, of 2,040,827 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CMBT shares. Wall Street Zen raised CMB.TECH from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings raised CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

CMB.TECH Stock Up 2.1%

CMBT stock traded up $0.26 during midday trading on Tuesday, hitting $12.69. The company’s stock had a trading volume of 3,029,013 shares, compared to its average volume of 1,690,486. The firm’s 50-day moving average is $12.93 and its 200-day moving average is $10.96. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 1.80. CMB.TECH has a 12 month low of $7.65 and a 12 month high of $14.93. The company has a market cap of $2.48 billion, a PE ratio of 19.52 and a beta of -0.12.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). CMB.TECH had a return on equity of 6.25% and a net margin of 9.70%.The business had revenue of $589.12 million during the quarter, compared to analysts’ expectations of $449.43 million.

CMB.TECH Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, April 15th. CMB.TECH’s dividend payout ratio (DPR) is presently 10.77%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in CMB.TECH in the 3rd quarter worth approximately $1,485,000. Folketrygdfondet bought a new position in shares of CMB.TECH during the 3rd quarter valued at $51,651,000. Norges Bank bought a new position in shares of CMB.TECH during the 2nd quarter valued at $2,847,000. Graham Capital Wealth Management LLC bought a new stake in shares of CMB.TECH in the third quarter worth $3,012,000. Finally, Quantbot Technologies LP purchased a new stake in CMB.TECH during the third quarter valued at $494,000.

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.