CMB.TECH (NYSE:CMBT) Sees Large Volume Increase - Time to 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 changed hands during mid-day 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.

Analyst Upgrades and Downgrades

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

CMB.TECH Stock Up 0.7%

The stock has a market cap of $1.77 billion, a PE ratio of 7.34 and a beta of 0.04. 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 business has a 50-day moving average price of $9.00 and a 200-day moving average price of $9.11.

CMB.TECH (NYSE:CMBT - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $259.00 million.

CMB.TECH Announces Dividend

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

Institutional Trading of CMB.TECH

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH in the 2nd quarter valued at $27,000. State of Wyoming acquired a new position in CMB.TECH in the 4th quarter valued at about $37,000. Legal & General Group Plc grew 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 valued at $59,000 after acquiring an additional 4,497 shares in the last quarter. SBI Securities Co. Ltd. grew 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 valued at $63,000 after acquiring an additional 1,496 shares in the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new position in CMB.TECH in the 2nd quarter valued at about $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.