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

Key Points

• CMB.TECH nv (NYSE:CMBT) experienced a 50.7% decline in short interest during September, with the short interest totaling 2,470,000 shares by September 15th.
• Wall Street Zen downgraded CMB.TECH from a "hold" rating to a "sell" rating as of August 9th.
• The company announced a special dividend of $0.05 per share, to be paid on October 9th, with a record date of October 2nd.

CMB.TECH nv (NYSE:CMBT - Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 2,470,000 shares, a decline of 50.7% from the August 31st total of 5,010,000 shares. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 2.9% of the company's stock are short sold. Approximately 2.9% of the company's stock are short sold. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of CMB.TECH from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

CMB.TECH Price Performance

Shares of CMB.TECH stock traded up $0.19 during trading hours on Friday, reaching $9.34. The stock had a trading volume of 1,413,330 shares, compared to its average volume of 774,111. CMB.TECH has a twelve month low of $7.65 and a twelve month high of $17.60. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 1.98. The stock's 50 day moving average is $9.08 and its 200 day moving average is $9.15. The firm has a market capitalization of $1.82 billion, a PE ratio of 7.53 and a beta of 0.03.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.The company had revenue of $387.81 million for the quarter, compared to analyst estimates of $259.00 million.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, October 2nd will be issued a $0.05 dividend. The ex-dividend date is Thursday, October 2nd. CMB.TECH's dividend payout ratio (DPR) is presently 2.42%.

Institutional Investors Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently bought and sold shares of CMBT. Bank of America Corp DE acquired a new stake in CMB.TECH during the 4th quarter worth $553,000. Millennium Management LLC acquired a new stake in CMB.TECH during the 4th quarter worth $144,000. Envestnet Asset Management Inc. raised its stake in CMB.TECH by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 72,292 shares of the company's stock worth $656,000 after acquiring an additional 6,304 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in CMB.TECH by 27.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company's stock worth $63,000 after acquiring an additional 1,496 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in CMB.TECH during the 1st quarter worth $147,000.

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.

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