CMB.TECH (NYSE:CMBT) Shares Gap Up – Here’s Why
by Teresa Graham · The Cerbat GemShares of CMB.TECH nv (NYSE:CMBT – Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $19.95, but opened at $20.51. CMB.TECH shares last traded at $20.5360, with a volume of 155,930 shares trading hands.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.
Read Our Latest Stock Report on CMB.TECH
CMB.TECH Trading Up 3.5%
The firm’s 50 day simple moving average is $18.35 and its two-hundred day simple moving average is $15.83. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.56. The stock has a market cap of $4.12 billion, a P/E ratio of 7.09 and a beta of 0.23.
CMB.TECH (NYSE:CMBT – Get Free Report) 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 net margin of 37.19% and a return on equity of 30.02%. The business had revenue of $703.94 million during the quarter.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in CMB.TECH in the fourth quarter worth $29,000. Valley Wealth Managers Inc. acquired a new position in shares of CMB.TECH during the first quarter valued at $33,000. Integrated Wealth Concepts LLC bought a new stake in CMB.TECH in the 2nd quarter valued at about $46,000. Optiver Holding B.V. lifted its position in CMB.TECH by 145.7% in the 1st 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 last quarter. Finally, Everstar Asset Management LLC acquired a new position in CMB.TECH during the 1st quarter valued at about $191,000.
About CMB.TECH
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.