KNOT Offshore Partners (NYSE:KNOP) Rating Lowered to “Hold” at StockNews.com

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

KNOT Offshore Partners Stock Up 0.6 %

Shares of KNOP stock opened at $5.60 on Tuesday. The stock has a market cap of $191.89 million, a P/E ratio of -13.01 and a beta of 0.70. KNOT Offshore Partners has a 12 month low of $4.94 and a 12 month high of $9.11. The company has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $6.02. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Wednesday, March 19th. The shipping company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.51. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. On average, research analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

Several institutional investors have recently bought and sold shares of KNOP. JPMorgan Chase & Co. grew its holdings in KNOT Offshore Partners by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock worth $3,030,000 after acquiring an additional 31,792 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in KNOT Offshore Partners by 8.8% in the 4th quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock worth $756,000 after purchasing an additional 11,200 shares in the last quarter. Virtu Financial LLC acquired a new stake in KNOT Offshore Partners in the 4th quarter worth approximately $135,000. Trexquant Investment LP boosted its stake in KNOT Offshore Partners by 170.4% in the 4th quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock worth $207,000 after purchasing an additional 23,907 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in KNOT Offshore Partners by 19.0% in the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 32,616 shares during the last quarter. 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.