Euronav (NYSE:CMBT) Shares Gap Up – Should You Buy?

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.

Euronav Stock Up 3.0 %

The business has a 50-day moving average price of $10.07 and a 200 day moving average price of $12.07. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.95 billion, a P/E ratio of 1.69 and a beta of -0.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new position in shares of Euronav in the 4th quarter worth approximately $363,000. SBI Securities Co. Ltd. bought a new position in Euronav during the 4th quarter valued at about $54,000. Steward Partners Investment Advisory LLC bought a new stake in Euronav in the fourth quarter worth about $58,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Euronav during the fourth quarter valued at approximately $140,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Euronav during the fourth quarter valued at approximately $101,000.

Euronav Company Profile

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.