Euronav (NYSE:CMBT) Hits New 52-Week Low – What’s Next?

Shares of Euronav NV (NYSE:CMBT) reached a new 52-week low on Friday . The company traded as low as $7.82 and last traded at $8.09, with a volume of 72457 shares trading hands. The stock had previously closed at $8.69.

Euronav Price Performance

The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.22 and a current ratio of 1.29. The company has a 50-day moving average price of $9.74 and a 200-day moving average price of $11.74. The firm has a market capitalization of $1.57 billion, a P/E ratio of 1.36 and a beta of -0.13.

Hedge Funds Weigh In On Euronav

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of Euronav in the 4th quarter valued at about $37,000. SBI Securities Co. Ltd. acquired a new position in Euronav during the fourth quarter valued at approximately $54,000. Steward Partners Investment Advisory LLC bought a new stake in Euronav in the fourth quarter valued at approximately $58,000. Blue Trust Inc. acquired a new stake in Euronav in the fourth quarter worth $62,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Euronav during the fourth quarter worth $101,000.

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.