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

Key Points

• CMB.TECH experienced a significant increase in trading volume, with a 68% rise, trading 1,367,819 shares at $9.78, compared to the prior session's volume of 814,890 shares.
• Analysts have downgraded CMB.TECH from a "hold" to a "sell" rating, with a current consensus rating of "Sell," indicating concerns about the company's performance.
• The company recently announced a special dividend of $0.05 per share, with a low dividend payout ratio of 3.23%, signaling a cautious approach to shareholder returns amidst financial uncertainty.

Shares of CMB.TECH nv (NYSE:CMBT - Get Free Report) saw an uptick in trading volume on Monday . 1,367,819 shares changed hands during trading, an increase of 68% from the previous session's volume of 814,890 shares.The stock last traded at $9.78 and had previously closed at $9.20.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMBT. Wall Street Zen downgraded CMB.TECH from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of CMB.TECH in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

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 business has a 50-day simple moving average of $9.09 and a 200-day simple moving average of $9.13. The firm has a market capitalization of $1.85 billion, a PE ratio of 7.68 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 (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 company had revenue of $387.81 million for the quarter, compared to analysts' expectations of $259.00 million.

CMB.TECH Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, October 2nd. CMB.TECH's dividend payout ratio is 3.23%.

Institutional Investors Weigh In On CMB.TECH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in CMB.TECH during the second quarter valued at approximately $27,000. Legal & General Group Plc grew 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 valued at $59,000 after buying an additional 4,497 shares during the last quarter. SBI Securities Co. Ltd. grew 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 valued at $63,000 after buying an additional 1,496 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of CMB.TECH during the second quarter valued at approximately $98,000. Finally, XTX Topco Ltd bought a new position in shares of CMB.TECH during the first quarter valued at approximately $147,000.

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.

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