CMB.TECH (NYSE:CMBT) Rating Lowered to Hold at Wall Street Zen

CMB.TECH (NYSE:CMBT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded CMB.TECH from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

CMB.TECH Trading Down 0.0%

Shares of CMB.TECH stock opened at $17.25 on Friday. CMB.TECH has a fifty-two week low of $9.03 and a fifty-two week high of $21.19. The firm has a market cap of $3.44 billion, a PE ratio of 5.93 and a beta of 0.23. The business’s fifty day moving average is $18.83 and its two-hundred day moving average is $16.18. 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) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.26 EPS 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 Trading of CMB.TECH

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in CMB.TECH by 288.5% during the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of CMB.TECH in the 1st quarter worth about $28,965,000. Encompass Capital Advisors LLC raised its holdings in shares of CMB.TECH by 40.0% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock worth $44,275,000 after purchasing an additional 1,000,693 shares during the period. Bank of America Corp DE raised its holdings in shares of CMB.TECH by 526.9% in the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock worth $13,571,000 after purchasing an additional 901,688 shares during the period. Finally, BTG Pactual Asset Management US LLC lifted its stake in shares of CMB.TECH by 528.9% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 559,729 shares of the company’s stock valued at $7,831,000 after purchasing an additional 470,726 shares in the last quarter.

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.