Euronav (NYSE:CMBT) Shares Gap Up – What’s Next?

Euronav NV (NYSE:CMBT) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.74, but opened at $9.98. Euronav shares last traded at $10.10, with a volume of 21,521 shares changing hands.

Euronav Stock Performance

The business’s fifty day moving average price is $10.01 and its 200-day moving average price is $12.03. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.29 and a quick ratio of 1.22. The stock has a market capitalization of $1.86 billion, a PE ratio of 1.62 and a beta of -0.13.

Institutional Trading of Euronav

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Euronav in the fourth quarter worth $5,113,000. Uniplan Investment Counsel Inc. bought a new position in Euronav in the fourth quarter valued at $4,261,000. Foundry Partners LLC bought a new stake in Euronav during the fourth quarter worth about $2,508,000. Vident Advisory LLC purchased a new position in shares of Euronav during the 4th quarter valued at about $1,124,000. Finally, Envestnet Asset Management Inc. bought a new position in Euronav during the fourth quarter valued at approximately $655,000.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.