CMB.TECH (NYSE:CMBT) Hits New 1-Year High - Here's Why

Key Points

• CMB.TECH shares reached a new 52-week high of $20.89, up from a prior close of $19.95, with more than 1.08 million shares traded.
• Analyst sentiment is generally positive: two analysts rate the stock a Strong Buy and one rates it Hold, resulting in an average consensus rating of Buy.
• The company reported quarterly earnings of $1.26 per share on revenue of $703.94 million, alongside a 30.02% return on equity and 37.19% net margin.

CMB.TECH nv (NYSE:CMBT - Get Free Report)'s share price reached a new 52-week high on Friday. The company traded as high as $20.89 and last traded at $20.8150, with a volume of 1086190 shares traded. The stock had previously closed at $19.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMBT shares. 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 reiterated a "hold (c+)" rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

CMB.TECH Price Performance

The firm has a market cap of $4.15 billion, a P/E ratio of 7.15 and a beta of 0.23. The stock's 50-day moving average is $18.44 and its 200-day moving average is $15.89. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.26 earnings per share for the quarter. The company 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%.

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of CMB.TECH in the 4th quarter valued at $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of CMB.TECH during the 1st quarter valued at about $33,000. Integrated Wealth Concepts LLC bought a new stake in CMB.TECH in the second quarter valued at about $46,000. Optiver Holding B.V. increased its stake in CMB.TECH by 145.7% in the first quarter. Optiver Holding B.V. now owns 12,473 shares of the company's stock valued at $158,000 after acquiring an additional 7,397 shares during the period. Finally, Everstar Asset Management LLC bought a new stake in CMB.TECH in the first quarter valued at about $191,000.

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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