CMB.TECH (NYSE:CMBT) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded CMB.TECH from “buy” to “hold,” although Weiss Ratings separately upgraded the stock to “buy.” MarketBeat data shows the company maintains an average “Strong Buy” rating.
• CMB.TECH shares opened at $17.25, with a market capitalization of $3.44 billion and a 12-month trading range of $9.03 to $21.19. The company reported quarterly EPS of $1.26, revenue of $703.94 million, a 37.19% net margin, and a 30.02% return on equity.
• Several institutional investors increased their positions, including BTG Pactual Asset Management, which raised its stake by 528.9%, and Bank of America, which increased its holdings by 526.9%.

CMB.TECH (NYSE:CMBT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded CMB.TECH from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy".

CMB.TECH Stock Performance

Shares of NYSE CMBT opened at $17.25 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56. The business's 50 day moving average is $18.83 and its two-hundred day moving average is $16.15. The company has a market cap of $3.44 billion, a P/E ratio of 6.16 and a beta of 0.23. CMB.TECH has a 12 month low of $9.03 and a 12 month high of $21.19.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.26 EPS for the quarter. The business had revenue of $703.94 million during the quarter. CMB.TECH had a net margin of 37.19% and a return on equity of 30.02%.

Institutional Trading of CMB.TECH

A number of hedge funds and other institutional investors have recently modified their holdings of CMBT. WINTON GROUP Ltd lifted its holdings in CMB.TECH by 31.7% during the 2nd quarter. WINTON GROUP Ltd now owns 69,800 shares of the company's stock worth $977,000 after buying an additional 16,800 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of CMB.TECH in the 2nd quarter valued at $46,000. BTG Pactual Asset Management US LLC increased its stake in shares of CMB.TECH by 528.9% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 559,729 shares of the company's stock valued at $7,831,000 after buying an additional 470,726 shares during the period. Optiver Holding B.V. increased its stake in shares of CMB.TECH by 145.7% in the 1st quarter. Optiver Holding B.V. now owns 12,473 shares of the company's stock valued at $158,000 after buying an additional 7,397 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of CMB.TECH by 526.9% in the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company's stock valued at $13,571,000 after buying an additional 901,688 shares during the period.

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and cleantech company headquartered in Antwerp, Belgium. The company develops, owns and operates commercial vessels and is focused on reducing emissions in shipping through the use of alternative fuels and related technologies, including hydrogen and ammonia.

Its maritime activities include dry bulk carriers, container ships, chemical tankers, offshore wind service vessels and other specialized vessels. CMB.TECH also provides hydrogen and ammonia fuel solutions, including the development of dual-fuel vessels, fuel infrastructure and related applications for the maritime, industrial and transportation sectors.

The company serves international customers and operates across global shipping markets.

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