CMB.TECH (NYSE:CMBT) Sets New 52-Week High – Time to Buy?

CMB.TECH nv (NYSE:CMBT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.94 and last traded at $19.9370, with a volume of 249483 shares trading hands. The stock had previously closed at $19.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of CMB.TECH from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, CMB.TECH has a consensus rating of “Buy”.

CMB.TECH Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average is $17.23 and its 200 day moving average is $15.21. The company has a market cap of $4.07 billion, a P/E ratio of 7.02 and a beta of 0.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in CMB.TECH during the first quarter valued at about $33,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of CMB.TECH in the fourth quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of CMB.TECH in the second quarter worth about $46,000. Optiver Holding B.V. raised its position in shares of 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 purchasing an additional 7,397 shares during the period. Finally, Everstar Asset Management LLC bought a new stake in shares of CMB.TECH in the first quarter valued at approximately $191,000.

About CMB.TECH

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.

In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.

The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.