CMB.TECH (NYSE:CMBT) Shares Gap Up - Still a Buy?

Key Points

• CMB.TECH shares opened higher, rising from a previous close of $19.95 to $20.51 and last trading near $20.54. The stock’s 50-day and 200-day moving averages were $18.35 and $15.83, respectively.
• Analyst sentiment is generally positive: two analysts rated the stock a Strong Buy, one rated it Hold, and WallStreetZen upgraded it to Buy. MarketBeat reports a consensus rating of Buy.
• The company reported quarterly revenue of $703.94 million and earnings of $1.26 per share, alongside a 37.19% net margin and 30.02% return on equity. Several major institutional investors, including Encompass Capital Advisors and Renaissance Technologies, recently increased their positions.

Shares of CMB.TECH nv (NYSE:CMBT - Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $19.95, but opened at $20.51. CMB.TECH shares last traded at $20.5360, with a volume of 155,930 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on CMBT shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Wall Street Zen raised CMB.TECH from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy".

CMB.TECH Stock Performance

The stock's 50-day moving average is $18.35 and its 200-day moving average is $15.83. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 7.09 and a beta of 0.23. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56.

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

Hedge Funds Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Encompass Capital Advisors LLC raised its position in CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock valued at $44,275,000 after purchasing an additional 1,000,693 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CMB.TECH in the first quarter worth about $28,965,000. Norges Bank purchased a new stake in shares of CMB.TECH in the fourth quarter worth about $21,956,000. Renaissance Technologies LLC grew its stake in shares of CMB.TECH by 288.5% in the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company's stock valued at $17,815,000 after buying an additional 1,045,800 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of CMB.TECH by 526.9% during the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company's stock valued at $13,571,000 after buying an additional 901,688 shares during the period.

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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