CMB.TECH (NYSE:CMBT) Shares Down 2.5% - What's Next?

CMB.TECH nv (NYSE:CMBT - Get Free Report) shares traded down 2.5% during trading on Wednesday . The company traded as low as $9.45 and last traded at $9.47. 29,611 shares were traded during mid-day trading, a decline of 74% from the average session volume of 115,379 shares. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised CMB.TECH from a "sell" rating to a "hold" rating in a report on Saturday, June 14th.

CMB.TECH Trading Up 0.5%

The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.95. The business has a fifty day simple moving average of $9.23 and a 200 day simple moving average of $9.64. The company has a market cap of $1.85 billion, a P/E ratio of 4.42 and a beta of 0.07.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.19. The company had revenue of $225.66 million for the quarter, compared to the consensus estimate of $194.00 million. CMB.TECH had a return on equity of 12.63% and a net margin of 43.45%.

Hedge Funds Weigh In On CMB.TECH

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in CMB.TECH by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company's stock valued at $2,252,000 after buying an additional 37,356 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of CMB.TECH during the first quarter worth $147,000. SBI Securities Co. Ltd. raised its holdings 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 worth $63,000 after acquiring an additional 1,496 shares in the last quarter. Envestnet Asset Management Inc. raised 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 worth $656,000 after acquiring an additional 6,304 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of CMB.TECH during the fourth quarter worth $1,124,000.

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.