CMB.TECH (NYSE:CMBT) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• CMB.TECH (NYSE:CMBT) experienced a trading volume of 416,461 shares, a 19% decrease from the previous session, with its stock price last trading at $8.82.
• The company reported a miss in earnings for the last quarter, with earnings per share at $0.04 compared to estimates of $0.14, despite exceeding revenue expectations with $387.81 million in revenue.
• A special dividend of $0.05 was announced to be paid on October 9th, with a dividend payout ratio of 2.42%.

CMB.TECH nv (NYSE:CMBT - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 416,461 shares were traded during trading, a decline of 19% from the previous session's volume of 512,843 shares.The stock last traded at $8.82 and had previously closed at $8.58.

Wall Street Analysts Forecast Growth

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

CMB.TECH Stock Performance

The company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $9.10. The company has a market cap of $1.85 billion, a PE ratio of 7.66 and a beta of 0.04.

CMB.TECH (NYSE:CMBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.04 earnings per share 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 firm had revenue of $387.81 million during the quarter, compared to analysts' expectations of $259.00 million.

CMB.TECH Dividend Announcement

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

Institutional Investors Weigh In On CMB.TECH

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter worth approximately $27,000. State of Wyoming purchased a new stake in shares of CMB.TECH during the fourth quarter worth approximately $37,000. Legal & General Group Plc raised its stake in shares of 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 purchasing an additional 4,497 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of 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 purchasing an additional 1,496 shares during the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new stake in shares of CMB.TECH during the second quarter worth approximately $98,000.

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.