Wall Street Zen Upgrades CMB.TECH (NYSE:CMBT) to Buy

Key Points

• Wall Street Zen upgraded CMB.TECH from “hold” to “buy,” while Weiss Ratings maintained a “hold (C+)” rating. MarketBeat data shows the stock has an overall average rating of “Buy.”
• CMB.TECH shares opened at $18.98, with a $3.78 billion market capitalization and a 52-week range of $8.88 to $20.82. The company reported quarterly EPS of $1.26, revenue of $703.94 million, a 30.02% return on equity and a 37.19% net margin.
• Several major institutional investors increased or initiated positions, including Encompass Capital Advisors, Renaissance Technologies, Bank of America, Arrowstreet Capital and Norges Bank.

CMB.TECH (NYSE:CMBT - Get Free Report) was upgraded by equities research 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 reaffirmed a "hold (c+)" rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CMB.TECH presently has an average rating of "Buy".

CMB.TECH Price Performance

Shares of NYSE CMBT opened at $18.98 on Friday. The firm has a market capitalization of $3.78 billion, a P/E ratio of 6.52 and a beta of 0.14. The firm's 50-day moving average price is $17.70 and its 200-day moving average price is $15.43. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56. CMB.TECH has a 1-year low of $8.88 and a 1-year high of $20.82.

CMB.TECH (NYSE:CMBT - Get Free Report) last issued its earnings results 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 return on equity of 30.02% and a net margin of 37.19%.

Institutional Trading of CMB.TECH

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC boosted 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 valued at $44,275,000 after purchasing an additional 1,000,693 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in CMB.TECH in the 1st quarter worth about $28,965,000. Norges Bank purchased a new stake in shares of CMB.TECH in the 4th quarter valued at about $21,956,000. Renaissance Technologies LLC boosted its position in shares of CMB.TECH by 288.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company's stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of CMB.TECH by 526.9% during 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 acquiring an additional 901,688 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 ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.

In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.

The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.