CMB.TECH (NYSE:CMBT) Trading Down 3.5% - Time to Sell?

Key Points

• CMB.TECH shares fell 3.5% to $9.17, with trading volume increasing to 710,994 shares, exceeding the average by 7%.
• Wall Street analysts downgraded the company from a "hold" to a "sell" rating, indicating a negative outlook.
• The company announced a special dividend of $0.05, payable on October 9th to shareholders of record by October 2nd.

CMB.TECH nv (NYSE:CMBT - Get Free Report) was down 3.5% on Friday . The company traded as low as $9.19 and last traded at $9.17. Approximately 710,994 shares changed hands during trading, an increase of 7% from the average daily volume of 665,630 shares. The stock had previously closed at $9.51.

Analysts Set New Price Targets

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

CMB.TECH Stock Down 3.2%

The firm's 50-day simple moving average is $9.02 and its 200 day simple moving average is $9.12. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.84 and a current ratio of 0.92. The stock has a market capitalization of $1.79 billion, a P/E ratio of 7.43 and a beta of 0.04.

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

CMB.TECH Dividend Announcement

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

Institutional Trading of CMB.TECH

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in shares of CMB.TECH during the fourth quarter valued at $553,000. Millennium Management LLC bought a new stake in CMB.TECH in the fourth quarter valued at $144,000. State of Wyoming bought a new stake in CMB.TECH in the fourth quarter valued at $37,000. Vident Advisory LLC bought a new stake in CMB.TECH in the fourth quarter valued at $1,124,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of CMB.TECH by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 72,292 shares of the company's stock valued at $656,000 after buying an additional 6,304 shares during the last quarter.

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.