CMB.TECH (NYSE:CMBT) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded CMB.TECH from “buy” to “hold,” although Weiss Ratings separately upgraded the stock to “buy.” MarketBeat data still shows an average analyst rating of “Strong Buy.”
• CMB.TECH shares opened at $18.46, with a market capitalization of $3.68 billion and a 52-week range of $9.03 to $21.19. The company most recently reported $1.26 in quarterly earnings per share on $703.94 million in revenue.
• Several institutional investors increased their positions, including Renaissance Technologies, Encompass Capital Advisors, Bank of America and BTG Pactual Asset Management.

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 report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of CMB.TECH from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

CMB.TECH Stock Performance

Shares of CMBT opened at $18.46 on Friday. The business has a 50-day simple moving average of $18.96 and a two-hundred day simple moving average of $16.34. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56. CMB.TECH has a 52 week low of $9.03 and a 52 week high of $21.19. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 6.35 and a beta of 0.23.

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

Institutional Investors Weigh In On CMB.TECH

Institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership bought a new stake in CMB.TECH during the 1st quarter valued at approximately $28,965,000. Renaissance Technologies LLC lifted its holdings in CMB.TECH by 288.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company's stock worth $17,815,000 after purchasing an additional 1,045,800 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in CMB.TECH by 40.0% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock worth $44,275,000 after purchasing an additional 1,000,693 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 worth $13,571,000 after purchasing an additional 901,688 shares during the period. Finally, BTG Pactual Asset Management US LLC boosted its stake in 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 worth $7,831,000 after purchasing an additional 470,726 shares during the period.

About CMB.TECH

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates a fleet of commercial vessels serving international trade, with activities spanning dry bulk shipping, container shipping, chemical tankers and other specialized maritime segments.

In addition to conventional shipping, CMB.TECH develops and deploys low-carbon technologies for maritime and industrial applications. Its portfolio includes vessels and equipment designed to operate on alternative fuels such as hydrogen and ammonia, as well as related hydrogen-fueled trucks, locomotives and marine applications.

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