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 report released on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of CMB.TECH from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, CMB.TECH presently has a consensus rating of “Strong Buy”.

CMB.TECH Price Performance

NYSE:CMBT opened at $18.35 on Friday. The business’s 50-day moving average is $18.91 and its 200 day moving average is $15.21. CMB.TECH has a 12 month low of $9.03 and a 12 month high of $21.19. The company has a market capitalization of $3.66 billion, a P/E ratio of 6.34 and a beta of 0.23. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56.

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

Hedge Funds Weigh In On CMB.TECH

Several hedge funds have recently modified their holdings of CMBT. Caitong International Asset Management Co. Ltd purchased a new position in shares of CMB.TECH in the 4th quarter valued at approximately $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of CMB.TECH during the first quarter worth $33,000. Integrated Wealth Concepts LLC acquired a new stake in CMB.TECH during the 2nd quarter worth about $46,000. Optiver Holding B.V. lifted its holdings in shares of 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 buying an additional 7,397 shares during the period. Finally, Amundi acquired a new position in shares of CMB.TECH in the 1st quarter valued at about $246,000.

About CMB.TECH

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates a fleet of commercial vessels serving international trade, with activities spanning dry bulk shipping, container shipping, chemical tankers and other specialized maritime segments.

In addition to conventional shipping, CMB.TECH develops and deploys low-carbon technologies for maritime and industrial applications. Its portfolio includes vessels and equipment designed to operate on alternative fuels such as hydrogen and ammonia, as well as related hydrogen-fueled trucks, locomotives and marine applications.