CBL International (NASDAQ:BANL) Stock Scheduled to Reverse Split on Monday, July 20th

CBL International Limited (NASDAQ:BANL) shares are set to reverse split on the morning of Monday, July 20th. The 1-13 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 19th.

CBL International Stock Performance

Shares of BANL stock traded down $0.07 during mid-day trading on Thursday, hitting $0.34. 604,880 shares of the stock traded hands, compared to its average volume of 119,251. CBL International has a 52-week low of $0.27 and a 52-week high of $0.98. The stock’s fifty day moving average is $0.40 and its two-hundred day moving average is $0.46.

CBL International (NASDAQ:BANL) last released its quarterly earnings results on Friday, April 17th. The company reported ($0.03) earnings per share for the quarter. The firm had revenue of $136.66 million for the quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on BANL shares. Weiss Ratings lowered shares of CBL International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded CBL International to a “sell” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About CBL International

CBL International Limited, a marine fuel logistics company, provides vessel refueling solutions in Malaysia, Hong Kong, China, South Korea, Singapore, and internationally. It facilitates vessel refueling between ship operators and local physical distributors/traders by purchasing marine fuel, including both fossil fuel and alternative fuel. The company’s services to its customers include vessel refueling options available at ports; arranges vessel refueling activities and local physical delivery of marine fuel; and coordinates vessel refueling schedule.