CMB.TECH nv (NYSE:CMBT) Sees Significant Decline in Short Interest

CMB.TECH nv (NYSE:CMBT) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,440,682 shares, a drop of 22.0% from the February 26th total of 1,846,772 shares. Based on an average daily volume of 2,040,827 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On CMB.TECH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its holdings in CMB.TECH by 3.0% in the fourth quarter. Headlands Technologies LLC now owns 67,058 shares of the company’s stock valued at $647,000 after purchasing an additional 1,957 shares during the period. Mariner LLC lifted its holdings in CMB.TECH by 4.0% during the 4th quarter. Mariner LLC now owns 63,372 shares of the company’s stock worth $612,000 after buying an additional 2,439 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in CMB.TECH during the 4th quarter worth about $26,000. Raymond James Financial Inc. bought a new stake in shares of CMB.TECH in the 2nd quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of CMB.TECH in the 4th quarter valued at about $29,000.

CMB.TECH Trading Down 0.6%

Shares of NYSE CMBT opened at $12.62 on Friday. The stock’s fifty day moving average is $12.89 and its 200 day moving average is $10.91. CMB.TECH has a 52 week low of $7.65 and a 52 week high of $14.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.79 and a current ratio of 0.86.

CMB.TECH (NYSE:CMBT) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%. The firm had revenue of $589.12 million for the quarter, compared to analyst estimates of $449.43 million.

CMB.TECH Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, April 15th. CMB.TECH’s dividend payout ratio (DPR) is presently 10.77%.

Wall Street Analyst Weigh In

CMBT has been the topic of several research reports. Weiss Ratings upgraded shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of CMB.TECH from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, CMB.TECH currently has an average rating of “Buy”.

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.