KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

KNOT Offshore Partners Stock Performance

NYSE:KNOP opened at $6.67 on Thursday. The stock has a 50-day simple moving average of $6.94 and a two-hundred day simple moving average of $6.52. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a market capitalization of $227.08 million, a PE ratio of -8.78 and a beta of 0.75.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.25). KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. The company had revenue of $74.42 million for the quarter, compared to the consensus estimate of $69.84 million. During the same period in the prior year, the firm posted $0.27 EPS. Analysts forecast that KNOT Offshore Partners will post 0.15 EPS for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds have recently made changes to their positions in KNOP. ORG Partners LLC bought a new position in shares of KNOT Offshore Partners in the first quarter worth about $37,000. Cubist Systematic Strategies LLC bought a new position in shares of KNOT Offshore Partners in the second quarter worth about $229,000. Marshall Wace LLP boosted its stake in shares of KNOT Offshore Partners by 297.5% in the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after acquiring an additional 87,283 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after acquiring an additional 41,100 shares during the period. Institutional investors own 26.82% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.