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

CMB.TECH (NYSE:CMBT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

CMBT has been the topic of several other research reports. Pareto Securities raised CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings upgraded shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. One research 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 has an average rating of “Buy”.

CMB.TECH Price Performance

CMBT opened at $11.50 on Friday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 14.02 and a beta of -0.08. The stock has a fifty day moving average of $10.19 and a 200-day moving average of $9.55. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.96. CMB.TECH has a 12-month low of $7.65 and a 12-month high of $11.85.

CMB.TECH (NYSE:CMBT) last issued its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $460.80 million for the quarter, compared to analysts’ expectations of $393.37 million. CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%.

Hedge Funds Weigh In On CMB.TECH

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of CMB.TECH in the second quarter worth about $27,000. Public Employees Retirement System of Ohio bought a new position in shares of CMB.TECH in the 3rd quarter valued at approximately $45,000. Sunbelt Securities Inc. bought a new position in shares of CMB.TECH in the 3rd quarter valued at approximately $56,000. Legal & General Group Plc lifted its holdings in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after purchasing an additional 4,497 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in CMB.TECH during the third quarter worth 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.