KNOT Offshore Partners (NYSE:KNOP) Raised to Strong-Buy at StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

KNOT Offshore Partners Stock Performance

NYSE KNOP opened at $5.26 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $179.05 million, a P/E ratio of -5.16 and a beta of 0.67. KNOT Offshore Partners has a 12-month low of $4.28 and a 12-month high of $7.00. The firm has a 50-day moving average price of $5.29 and a two-hundred day moving average price of $5.61.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Monday, February 26th. The shipping company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.23). The firm had revenue of $73.03 million during the quarter, compared to analyst estimates of $70.96 million. KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. Analysts anticipate that KNOT Offshore Partners will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new position in shares of KNOT Offshore Partners in the 1st quarter valued at approximately $57,000. Atria Wealth Solutions Inc. acquired a new position in shares of KNOT Offshore Partners in the 4th quarter valued at approximately $61,000. EWA LLC acquired a new position in KNOT Offshore Partners during the 4th quarter worth approximately $75,000. Jump Financial LLC acquired a new position in KNOT Offshore Partners during the 4th quarter worth approximately $153,000. Finally, FNY Investment Advisers LLC increased its position in KNOT Offshore Partners by 31.8% during the 4th quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after purchasing an additional 16,687 shares in the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.

About KNOT Offshore Partners

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