CMB.TECH (NYSE:CMBT) Trading Down 3.5% - Should You 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.

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

Analyst Ratings Changes

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

CMB.TECH Stock Up 0.8%

The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 15.86 and a beta of 0.04. 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 business's 50 day moving average is $9.02 and its 200-day moving average is $9.12.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its quarterly 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 firm had revenue of $387.81 million for the quarter, compared to the consensus estimate 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 declared a special dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 2nd.

Institutional Investors Weigh In On CMB.TECH

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in CMB.TECH during the fourth quarter worth $553,000. Envestnet Asset Management Inc. increased its position 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. SBI Securities Co. Ltd. increased its position 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. Millennium Management LLC bought a new position in CMB.TECH during the fourth quarter worth $144,000. Finally, XTX Topco Ltd bought a new position in CMB.TECH during the first quarter worth $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.