CMB.TECH (NYSE:CMBT) Shares Gap Up - Should You Buy?

Key Points

• CMB.TECH's stock price experienced a gap up, opening at $9.99 after closing at $9.64, signaling potential investor interest.
• Analysts have downgraded CMB.TECH from a "hold" to a "sell" rating, indicating caution about future performance.
• The company announced a special dividend of $0.05 per share payable on October 9th, targeting shareholders of record as of October 2nd.

CMB.TECH nv (NYSE:CMBT - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $9.64, but opened at $9.99. CMB.TECH shares last traded at $9.98, with a volume of 622,085 shares.

Analysts Set New Price Targets

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

CMB.TECH Price 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 stock's 50 day simple moving average is $9.06 and its two-hundred day simple moving average is $9.14. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 7.99 and a beta of 0.04.

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

CMB.TECH Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, October 9th. Shareholders 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 hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of CMB.TECH during the second quarter valued at $2,847,000. Goldman Sachs Group Inc. lifted its holdings in shares of CMB.TECH by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company's stock valued at $2,252,000 after acquiring an additional 37,356 shares during the period. Envestnet Asset Management Inc. lifted 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 acquiring an additional 6,304 shares during the period. Bank of America Corp DE bought a new position in shares of CMB.TECH during the fourth quarter valued at $553,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of CMB.TECH by 3,978.5% during the second quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company's stock valued at $277,000 after acquiring an additional 29,998 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.

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