Blueknight Energy Partners LP (NASDAQ:BKEP) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 395,000 shares, an increase of 50.5% from the April 30th total of 262,400 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 255,000 shares, the days-to-cover ratio is currently 1.5 days.
Several analysts have recently issued reports on BKEP shares. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Co reissued a “buy” rating on shares of Signature Bank in a report on Thursday, March 14th. Finally, Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $2.31.
NASDAQ:BKEP opened at $1.31 on Thursday. The company has a 50-day simple moving average of $1.14. The firm has a market capitalization of $54.28 million, a price-to-earnings ratio of -4.52 and a beta of 1.81. Blueknight Energy Partners has a twelve month low of $1.00 and a twelve month high of $3.45.
Blueknight Energy Partners (NASDAQ:BKEP) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $93.73 million for the quarter. Blueknight Energy Partners had a negative return on equity of 3.90% and a negative net margin of 9.85%. Sell-side analysts forecast that Blueknight Energy Partners will post -0.1 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Blueknight Energy Partners by 115.6% in the fourth quarter. Geode Capital Management LLC now owns 52,800 shares of the pipeline company’s stock valued at $60,000 after purchasing an additional 28,310 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Blueknight Energy Partners during the fourth quarter worth about $312,000. Finally, Zazove Associates LLC raised its position in shares of Blueknight Energy Partners by 31.0% during the fourth quarter. Zazove Associates LLC now owns 1,048,265 shares of the pipeline company’s stock worth $1,206,000 after acquiring an additional 248,265 shares during the last quarter. Hedge funds and other institutional investors own 17.25% of the company’s stock.
About Blueknight Energy Partners
Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company operates through four segments: Asphalt Terminalling Services, Crude Oil Terminalling Services, Crude Oil Pipeline Services, and Crude Oil Trucking Services.
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