CMB.TECH (NYSE:CMBT) Sees Strong Trading Volume – Still a Buy?

CMB.TECH nv (NYSE:CMBT) shares saw an uptick in trading volume on Wednesday . 1,658,881 shares traded hands during trading, an increase of 68% from the previous session’s volume of 985,291 shares.The stock last traded at $10.3040 and had previously closed at $9.92.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMBT shares. Wall Street Zen cut shares of CMB.TECH from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of CMB.TECH in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, CMB.TECH currently has an average rating of “Sell”.

CMB.TECH Trading Up 4.0%

The company has a 50 day moving average of $9.48 and a 200-day moving average of $9.26. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 8.30 and a beta of -0.02. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.84 and a current ratio of 0.92.

CMB.TECH (NYSE:CMBT) last released its earnings results on Thursday, August 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). The firm had revenue of $387.81 million during the quarter, compared to analyst estimates of $259.00 million. CMB.TECH had a net margin of 22.69% and a return on equity of 6.02%.

CMB.TECH Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 2nd. CMB.TECH’s dividend payout ratio (DPR) is currently 2.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in CMB.TECH by 9.6% during the 1st 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. XTX Topco Ltd purchased a new position in shares of CMB.TECH in the 1st quarter valued at $147,000. AdvisorShares Investments LLC purchased a new position in shares of CMB.TECH during the third quarter worth about $511,000. SBI Securities Co. Ltd. boosted its position in shares of CMB.TECH by 121.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 15,860 shares of the company’s stock valued at $149,000 after purchasing an additional 8,702 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new stake in CMB.TECH in the third quarter valued at approximately $122,000.

About CMB.TECH

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.