CMB.TECH (NYSE:CMBT) Shares Gap Up - Here's What Happened

Key Points

• CMB.TECH shares opened at $9.69 after a gap up from the previous close of $9.38, with a last trading price of $9.66 and a volume of 333,552 shares.
• Wall Street Zen downgraded CMB.TECH from a "hold" rating to a "sell" rating on August 9th, raising concerns about the company's performance.
• CMB.TECH announced a special dividend of $0.05 to be paid on October 9th, with shareholders of record on October 2nd eligible for the payout.

CMB.TECH nv (NYSE:CMBT - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $9.38, but opened at $9.69. CMB.TECH shares last traded at $9.66, with a volume of 333,552 shares traded.

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 company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.84. The company has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $9.10. The stock has a market cap of $1.84 billion, a P/E ratio of 7.64 and a beta of 0.04.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced 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 business had revenue of $387.81 million for the quarter, compared to analysts' expectations 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 issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in CMB.TECH in the fourth quarter worth about $553,000. Millennium Management LLC purchased a new stake in CMB.TECH in the fourth quarter valued at $144,000. State of Wyoming acquired a new position in shares of CMB.TECH in the fourth quarter worth about $37,000. Vident Advisory LLC acquired a new position in shares of CMB.TECH during the 4th quarter worth about $1,124,000. Finally, Envestnet Asset Management Inc. grew its stake in CMB.TECH by 9.6% during the 1st 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 in 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.