CMB.TECH (NYSE:CMBT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CMB.TECH (NYSE:CMBT) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, CMB.TECH currently has an average rating of “Buy”.

CMB.TECH Stock Performance

CMBT opened at $19.05 on Friday. The business has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $15.48. The company has a market capitalization of $3.80 billion, a PE ratio of 6.54 and a beta of 0.14. CMB.TECH has a 1 year low of $8.88 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.12 and a quick ratio of 0.97.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $1.26 earnings per share for the quarter. CMB.TECH had a return on equity of 30.02% and a net margin of 37.19%.The firm had revenue of $703.94 million for the quarter.

Hedge Funds Weigh In On CMB.TECH

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of CMB.TECH by 288.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock worth $17,815,000 after acquiring an additional 1,045,800 shares in the last quarter. Norges Bank bought a new position in CMB.TECH in the fourth quarter valued at approximately $21,956,000. Encompass Capital Advisors LLC raised its position in CMB.TECH by 40.0% during the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after purchasing an additional 1,000,693 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in CMB.TECH during the first quarter worth $28,965,000. Finally, Bank of America Corp DE lifted its stake in CMB.TECH by 526.9% during the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock worth $13,571,000 after purchasing an additional 901,688 shares during the last quarter.

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.

In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.

The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.