KNOT Offshore Partners (NYSE:KNOP) Downgraded by StockNews.com to “Hold”

KNOT Offshore Partners (NYSE:KNOP) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

KNOT Offshore Partners Stock Down 0.5 %

NYSE:KNOP traded down $0.03 during trading hours on Tuesday, reaching $6.56. The company’s stock had a trading volume of 28,535 shares, compared to its average volume of 91,663. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72. The company has a market cap of $223.34 million, a price-to-earnings ratio of -8.63 and a beta of 0.75. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The business’s 50-day moving average is $6.85 and its 200-day moving average is $6.61.

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). The company had revenue of $74.42 million for the quarter, compared to the consensus estimate of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same quarter last year, the company posted $0.27 EPS. Equities research analysts predict that KNOT Offshore Partners will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KNOP. ORG Partners LLC bought a new position in KNOT Offshore Partners in the 1st quarter worth approximately $37,000. Cubist Systematic Strategies LLC bought a new stake in KNOT Offshore Partners in the 2nd quarter valued at $229,000. Marshall Wace LLP grew its position in KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after purchasing an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of KNOT Offshore Partners by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after purchasing an additional 41,100 shares during the period. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Company Profile

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.