CMB.TECH nv (NYSE:CMBT) Sees Large Growth in Short Interest

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) was the recipient of a large growth in short interest during the month of 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. Based on an average trading volume of 1,410,000 shares, the short-interest ratio is presently 3.6 days. Currently, 24.6% of the company's shares are short sold. Currently, 24.6% of the company's shares are short sold. Based on an average trading volume of 1,410,000 shares, the short-interest ratio is presently 3.6 days.

Institutional Trading of CMB.TECH

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in CMB.TECH during the 2nd quarter worth about $27,000. State of Wyoming acquired a new position in shares of CMB.TECH in the 4th quarter valued at about $37,000. Legal & General Group Plc lifted its holdings in shares of CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock valued at $59,000 after buying an additional 4,497 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of CMB.TECH by 27.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,934 shares of the company's stock valued at $63,000 after buying an additional 1,496 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new position in shares of CMB.TECH in the 2nd quarter valued at about $98,000.

CMB.TECH Stock Up 0.1%

Shares of NYSE:CMBT traded up $0.01 on Monday, reaching $9.67. The company had a trading volume of 3,824,000 shares, compared to its average volume of 4,617,436. CMB.TECH has a 52-week low of $7.65 and a 52-week high of $17.60. The firm's 50 day simple moving average is $9.03 and its 200-day simple moving average is $9.10. 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 firm has a market capitalization of $1.88 billion, a PE ratio of 16.66 and a beta of 0.04.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced its 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 business had revenue of $387.81 million for the quarter, compared to analysts' expectations of $259.00 million.

CMB.TECH Dividend Announcement

The company also recently declared a special dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 2nd.

Wall Street Analyst Weigh In

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

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.