Euronav (NYSE:CMBT) Shares Gap Up – Time to 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 changing hands.

Euronav Stock Down 3.3 %

The stock has a fifty day moving average of $10.01 and a 200 day moving average of $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 firm has a market capitalization of $1.86 billion, a P/E ratio of 1.62 and a beta of -0.13.

Hedge Funds Weigh In On Euronav

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