Short Interest in CMB.TECH nv (NYSE:CMBT) Rises By 442.6%

Key Points

• CMB.TECH nv experienced a dramatic increase in short interest, with shares sold short rising to 5,010,000, a 442.6% increase from mid-August.
• Wall Street analysts downgraded CMB.TECH from a "hold" to a "sell" rating, indicating growing caution among experts regarding the company's outlook.
• The company is set to pay a special dividend of $0.05 on October 9th, with the ex-dividend date being October 2nd.

CMB.TECH nv (NYSE:CMBT - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 5,010,000 shares, a growth of 442.6% from the August 15th total of 923,300 shares. Currently, 24.6% of the shares of the stock are sold short. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 3.6 days. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 24.6% of the shares of the stock are sold short.

CMB.TECH Price Performance

Shares of CMBT traded up $0.07 on Wednesday, hitting $9.48. The company's stock had a trading volume of 1,132,132 shares, compared to its average volume of 652,494. The company has a market capitalization of $1.84 billion, a PE ratio of 7.64 and a beta of 0.04. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.84. CMB.TECH has a fifty-two week low of $7.65 and a fifty-two week high of $17.60. The company has a 50 day moving average price of $9.02 and a 200 day moving average price of $9.10.

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

CMB.TECH Dividend Announcement

The firm also recently announced 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 of this dividend is Thursday, October 2nd.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in CMB.TECH in the 2nd quarter worth approximately $27,000. State of Wyoming bought a new position in CMB.TECH in the 4th quarter worth approximately $37,000. Legal & General Group Plc raised its position in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock worth $59,000 after purchasing an additional 4,497 shares during the last quarter. SBI Securities Co. Ltd. raised its position in CMB.TECH by 27.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company's stock worth $63,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Orion Porfolio Solutions LLC bought a new position in CMB.TECH in the 2nd quarter worth approximately $98,000.

CMB.TECH Company Profile

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.