CMB.TECH (NYSE:CMBT) Cut to “Sell” at Wall Street Zen

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

A number of other research analysts have also commented on CMBT. Weiss Ratings raised shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Pareto Securities raised CMB.TECH to a “strong-buy” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

CMB.TECH Trading Up 0.9%

Shares of CMB.TECH stock opened at $13.04 on Friday. CMB.TECH has a 1 year low of $7.65 and a 1 year high of $13.16. The company’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $9.73. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 15.90 and a beta of -0.08. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.96.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of CMB.TECH in the 2nd quarter valued at approximately $27,000. Public Employees Retirement System of Ohio bought a new position in shares of CMB.TECH during the 3rd quarter worth approximately $45,000. Sunbelt Securities Inc. acquired a new stake in CMB.TECH in the 3rd quarter valued at $56,000. Legal & General Group Plc boosted its stake in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after buying an additional 4,497 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in CMB.TECH in the third quarter valued at $94,000.

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.