CMB.TECH (NYSE:CMBT) Sees Unusually-High Trading Volume - What's Next?

Key Points

• CMB.TECH experienced a significant increase in trading volume, with over 1 million shares traded on Monday, up 63% from the previous session.
• The stock was recently downgraded from a "hold" to a "sell" rating by Wall Street Zen, following a quarter where it missed earnings expectations.
• CMB.TECH announced a special dividend of $0.05 per share, scheduled for payment on October 9th to stockholders of record by October 2nd.

CMB.TECH nv (NYSE:CMBT - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,014,787 shares changed hands during mid-day trading, an increase of 63% from the previous session's volume of 623,606 shares.The stock last traded at $9.81 and had previously closed at $9.66.

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 firm has a market cap of $1.79 billion, a price-to-earnings ratio of 16.40 and a beta of 0.04. 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 stock has a fifty day moving average price of $9.02 and a 200-day moving average price of $9.11.

CMB.TECH (NYSE:CMBT - Get Free Report) last released 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). The company had revenue of $387.81 million during the quarter, compared to analyst estimates of $259.00 million. CMB.TECH had a net margin of 22.69% and a return on equity of 6.02%.

CMB.TECH Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew 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 during the period. Raymond James Financial Inc. acquired a new position in CMB.TECH during the second quarter worth $27,000. State of Wyoming acquired a new position in CMB.TECH during the fourth quarter worth $37,000. Legal & General Group Plc grew 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 during the period. Finally, Envestnet Asset Management Inc. grew its holdings in CMB.TECH by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 72,292 shares of the company's stock worth $656,000 after acquiring an additional 6,304 shares during the period.

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.