CBL International Shares Scheduled to Reverse Split on Monday, July 20th (NASDAQ:BANL)

CBL International Limited (NASDAQ:BANL) shares are going to reverse split on Monday, July 20th. The 1-13 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 19th.

CBL International Price Performance

Shares of NASDAQ BANL traded down $0.07 during midday trading on Thursday, hitting $0.34. 604,880 shares of the stock traded hands, compared to its average volume of 855,648. CBL International has a one year low of $0.27 and a one year high of $0.98. The firm has a 50-day moving average of $0.41 and a two-hundred day moving average of $0.46.

CBL International (NASDAQ:BANL) last released its quarterly earnings results on Friday, April 17th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $136.66 million during the quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen raised CBL International to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of CBL International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, CBL International currently has an average rating of “Sell”.

CBL International Company Profile

CBL International Limited, a marine fuel logistics company, provides vessel refueling solutions in Malaysia, Hong Kong, China, South Korea, Singapore, and internationally. It facilitates vessel refueling between ship operators and local physical distributors/traders by purchasing marine fuel, including both fossil fuel and alternative fuel. The company’s services to its customers include vessel refueling options available at ports; arranges vessel refueling activities and local physical delivery of marine fuel; and coordinates vessel refueling schedule.