Euronav (NYSE:CMBT) Shares Gap Up - Here's Why

Euronav NV (NYSE:CMBT - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.01, but opened at $8.39. Euronav shares last traded at $8.58, with a volume of 17,319 shares traded.

Euronav Price Performance

The stock has a market cap of $1.70 billion, a P/E ratio of 1.47 and a beta of 0.05. The company's 50 day moving average price is $9.29 and its 200-day moving average price is $11.29. The company has a quick ratio of 1.22, a current ratio of 1.29 and a debt-to-equity ratio of 1.91.

Institutional Trading of Euronav

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Euronav during the fourth quarter worth $5,113,000. Uniplan Investment Counsel Inc. acquired a new stake in Euronav during the fourth quarter worth approximately $4,261,000. Foundry Partners LLC bought a new position in shares of Euronav during the 4th quarter worth about $2,508,000. Vident Advisory LLC bought a new stake in Euronav in the 4th quarter valued at about $1,124,000. Finally, Envestnet Asset Management Inc. acquired a new position in Euronav during the 4th quarter worth approximately $655,000.

Euronav 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.