Stock Traders Buy High Volume of CMB.TECH Call Options (NYSE:CMBT)

Key Points

• Call-option activity surged: Investors purchased 4,058 CMB.TECH call options, 735% above the average volume of 486 contracts.
• Shares fell 5.1% to $18.01 on Thursday, despite solid reported results of $1.26 EPS and $703.94 million in quarterly revenue.
• Institutional sentiment and analyst views were positive: Several funds increased their holdings, analysts rated the stock a consensus “Strong Buy,” and the company announced a special $0.43 dividend payable October 22 to eligible shareholders.

CMB.TECH nv (NYSE:CMBT - Get Free Report) saw unusually large options trading on Thursday. Stock investors purchased 4,058 call options on the company. This represents an increase of 735% compared to the average volume of 486 call options.

Hedge Funds Weigh In On CMB.TECH

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC boosted its stake in shares of CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock worth $44,275,000 after acquiring an additional 1,000,693 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in CMB.TECH in the 1st quarter worth $28,965,000. Renaissance Technologies LLC raised its holdings in CMB.TECH by 288.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company's stock worth $17,815,000 after purchasing an additional 1,045,800 shares during the period. Bank of America Corp DE lifted its position in CMB.TECH by 526.9% during the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company's stock valued at $13,571,000 after purchasing an additional 901,688 shares in the last quarter. Finally, Fearnley Asset Management AS purchased a new position in CMB.TECH during the fourth quarter valued at $10,284,000.

CMB.TECH Trading Down 5.1%

Shares of CMB.TECH stock traded down $0.98 on Thursday, hitting $18.01. The stock had a trading volume of 1,534,218 shares, compared to its average volume of 1,569,892. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 6.19 and a beta of 0.23. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56. The stock's 50-day simple moving average is $18.78 and its two-hundred day simple moving average is $16.11. CMB.TECH has a one year low of $9.03 and a one year high of $21.19.

CMB.TECH (NYSE:CMBT - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share (EPS) for the quarter. The firm had revenue of $703.94 million for the quarter. CMB.TECH had a return on equity of 30.02% and a net margin of 37.19%.

CMB.TECH Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Friday, October 16th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, October 16th. CMB.TECH's dividend payout ratio is currently 12.03%.

Analysts Set New Price Targets

CMBT has been the topic of several analyst reports. Wall Street Zen upgraded shares of CMB.TECH from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Weiss Ratings upgraded shares of CMB.TECH from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, CMB.TECH presently has a consensus rating of "Strong Buy".

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and cleantech company headquartered in Antwerp, Belgium. The company develops, owns and operates commercial vessels and is focused on reducing emissions in shipping through the use of alternative fuels and related technologies, including hydrogen and ammonia.

Its maritime activities include dry bulk carriers, container ships, chemical tankers, offshore wind service vessels and other specialized vessels. CMB.TECH also provides hydrogen and ammonia fuel solutions, including the development of dual-fuel vessels, fuel infrastructure and related applications for the maritime, industrial and transportation sectors.

The company serves international customers and operates across global shipping markets.

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