KNOT Offshore Partners (NYSE:KNOP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

KNOT Offshore Partners LP (NYSE:KNOP) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.75 and traded as low as $6.01. KNOT Offshore Partners shares last traded at $6.08, with a volume of 72,646 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

KNOT Offshore Partners Price Performance

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 business has a 50 day moving average price of $6.46 and a 200-day moving average price of $6.75. The company has a market capitalization of $208.54 million, a price-to-earnings ratio of 121.60 and a beta of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last issued 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 business had revenue of $74.42 million during the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. During the same period last year, the firm posted $0.27 earnings per share. Research analysts predict that KNOT Offshore Partners LP will post 0.15 EPS for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were issued a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, October 28th. KNOT Offshore Partners’s payout ratio is 200.00%.

Hedge Funds Weigh In On KNOT Offshore Partners

Several institutional investors have recently made changes to their positions in KNOP. Marshall Wace LLP grew its stake in shares of KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 87,283 shares during the period. Renaissance Technologies LLC raised its stake in 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 buying an additional 41,100 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in KNOT Offshore Partners in the second quarter worth approximately $229,000. Institutional investors and hedge funds 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.