CMB.TECH (NYSE:CMBT) Given "Sell (D+)" Rating at Weiss Ratings

Key Points

• CMB.TECH (NYSE:CMBT) has received a "Sell (D+)" rating from Weiss Ratings, maintaining its consensus rating of "Sell" after being downgraded from a "hold" rating by Wall Street Zen.
• The company's shares have recently traded down by 1.1%, reaching $9.01, while reporting earnings of $0.04 EPS which fell short of analyst expectations of $0.14 EPS.
• Institutional investors have shown activity with some increasing their holdings; notably, Legal & General Group Plc raised its position in CMB.TECH by 221.3% during the second quarter.

CMB.TECH (NYSE:CMBT - Get Free Report)'s stock had its "sell (d+)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut CMB.TECH from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, CMB.TECH presently has a consensus rating of "Sell".

CMB.TECH Trading Down 1.1%

Shares of CMB.TECH stock traded down $0.10 during trading on Wednesday, reaching $9.01. 1,957,315 shares of the company were exchanged, compared to its average volume of 2,480,140. CMB.TECH has a twelve month low of $7.65 and a twelve month high of $17.03. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 7.27 and a beta of 0.04. The business has a 50-day moving average price of $9.09 and a 200-day moving average price of $9.14.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CMBT. Raymond James Financial Inc. bought a new stake in CMB.TECH during the second quarter worth about $27,000. Legal & General Group Plc raised its holdings in CMB.TECH by 221.3% during the second quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock worth $59,000 after acquiring an additional 4,497 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in CMB.TECH by 27.5% during the first 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. Orion Porfolio Solutions LLC bought a new stake in CMB.TECH during the second quarter worth about $98,000. Finally, Millennium Management LLC bought a new stake in CMB.TECH during the fourth quarter worth about $144,000.

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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