CMB.TECH (NYSE:CMBT) Sees Large Volume Increase – Should You Buy?

CMB.TECH nv (NYSE:CMBT) saw unusually-high trading volume on Wednesday . Approximately 1,658,881 shares traded hands during trading, an increase of 68% from the previous session’s volume of 985,291 shares.The stock last traded at $10.3040 and had previously closed at $9.92.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen downgraded CMB.TECH from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of CMB.TECH in a research report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, CMB.TECH currently has a consensus rating of “Sell”.

CMB.TECH Price Performance

The firm has a market cap of $2.01 billion, a PE ratio of 8.30 and a beta of -0.02. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 1.98. The company has a 50 day moving average price of $9.48 and a 200 day moving average price of $9.26.

CMB.TECH (NYSE:CMBT) last posted its earnings results on Thursday, August 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). The firm had revenue of $387.81 million for the quarter, compared to analysts’ expectations of $259.00 million. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.

CMB.TECH Announces Dividend

The firm also recently announced a special dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, October 2nd. CMB.TECH’s dividend payout ratio (DPR) is 2.42%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Folketrygdfondet acquired a new position in shares of CMB.TECH during the 3rd quarter worth approximately $51,651,000. Vanguard Group Inc. raised its holdings in shares of CMB.TECH by 3,042.0% in the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after acquiring an additional 4,107,637 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of CMB.TECH in the third quarter valued at $17,428,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CMB.TECH during the third quarter valued at $12,024,000. Finally, Bank of America Corp DE increased its position in CMB.TECH by 3,505.8% during the 3rd quarter. Bank of America Corp DE now owns 748,810 shares of the company’s stock worth $7,031,000 after purchasing an additional 728,043 shares in the last quarter.

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.