Euronav (NYSE:CMBT) Shares Gap Up - Here's What Happened

Euronav NV (NYSE:CMBT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.01, but opened at $8.39. Euronav shares last traded at $8.58, with a volume of 17,319 shares trading hands.

Euronav Price Performance

The company has a 50 day moving average of $9.36 and a 200-day moving average of $11.36. The company has a quick ratio of 1.22, a current ratio of 1.29 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.74 billion, a P/E ratio of 1.51 and a beta of 0.05.

Institutional Trading of Euronav

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Euronav in the fourth quarter worth about $54,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Euronav in the 4th quarter valued at about $58,000. Blue Trust Inc. acquired a new position in Euronav in the 4th quarter valued at approximately $363,000. Norges Bank purchased a new stake in shares of Euronav during the fourth quarter worth $5,113,000. Finally, Foundry Partners LLC acquired a new stake in shares of Euronav during the 4th quarter valued at about $2,508,000.

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.