CMB.TECH (NYSE:CMBT) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded CMB.TECH from “hold” to “buy.” Weiss Ratings also raised its rating to buy; MarketBeat reports an average rating of “Strong Buy,” based on two Strong Buy ratings and one Buy.
• CMB.TECH shares opened at $16.64, with a market capitalization of $3.32 billion. In its latest reported quarter, the company posted EPS of $1.26 and revenue of $703.94 million.
• Several institutional investors increased their holdings, including Renaissance Technologies and Bank of America. CMB.TECH operates commercial vessels and develops maritime technologies that use alternative fuels such as hydrogen and ammonia.

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

Separately, Weiss Ratings raised shares of CMB.TECH from a "hold (c+)" rating to a "buy (b-)" rating in a research report 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 MarketBeat.com, the stock has an average rating of "Strong Buy".

CMB.TECH Stock Up 0.9%

Shares of CMB.TECH stock opened at $16.64 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of 5.97 and a beta of 0.21. The business's 50 day simple moving average is $18.90 and its 200 day simple moving average is $15.54. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.97 and a current ratio of 1.12. CMB.TECH has a 52-week low of $9.27 and a 52-week high of $21.19.

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

Institutional Trading of CMB.TECH

Several institutional investors and hedge funds have recently modified their holdings of CMBT. Arrowstreet Capital Limited Partnership purchased a new position in shares of CMB.TECH in the first quarter worth about $28,965,000. Renaissance Technologies LLC raised 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 valued at $17,815,000 after buying an additional 1,045,800 shares during the period. Encompass Capital Advisors LLC grew its stake in shares of CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock worth $44,275,000 after acquiring an additional 1,000,693 shares in the last quarter. Bank of America Corp DE raised its holdings 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 purchasing an additional 901,688 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC lifted its stake in CMB.TECH by 528.9% during the second 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 last quarter.

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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