Wall Street Zen Upgrades CMB.TECH (NYSE:CMBT) to Buy

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

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of CMB.TECH in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

CMB.TECH Price Performance

Shares of CMB.TECH stock opened at $18.98 on Friday. 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 company’s 50-day moving average price is $17.70 and its two-hundred day moving average price is $15.44. CMB.TECH has a 52 week low of $8.88 and a 52 week high of $20.82. The stock has a market cap of $3.78 billion, a PE ratio of 6.52 and a beta of 0.14.

CMB.TECH (NYSE:CMBT) last issued 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 company had revenue of $703.94 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMBT. Valley Wealth Managers Inc. acquired a new position in CMB.TECH in the 1st quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd bought a new stake in CMB.TECH in the fourth quarter worth approximately $29,000. Integrated Wealth Concepts LLC acquired a new position in CMB.TECH during the second quarter worth $46,000. Optiver Holding B.V. increased its holdings in shares of CMB.TECH by 145.7% during the 1st quarter. Optiver Holding B.V. now owns 12,473 shares of the company’s stock valued at $158,000 after acquiring an additional 7,397 shares during the last quarter. Finally, Everstar Asset Management LLC bought a new position in shares of CMB.TECH in the first quarter valued at approximately $191,000.

CMB.TECH Company Profile

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.