StockNews.com Downgrades KNOT Offshore Partners (NYSE:KNOP) to Buy

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

KNOT Offshore Partners Stock Performance

Shares of KNOT Offshore Partners stock opened at $5.27 on Tuesday. The company has a market cap of $179.42 million, a PE ratio of -5.17 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.64. KNOT Offshore Partners has a 52 week low of $4.34 and a 52 week high of $7.00. The business has a 50 day moving average price of $5.24 and a 200-day moving average price of $5.57.

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

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently modified their holdings of KNOP. 683 Capital Management LLC increased its holdings in KNOT Offshore Partners by 14.7% during the third quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock worth $7,831,000 after buying an additional 146,501 shares during the last quarter. Strategic Income Management LLC purchased a new position in KNOT Offshore Partners in the third quarter valued at approximately $3,920,000. FNY Investment Advisers LLC grew its holdings in KNOT Offshore Partners by 31.8% during the fourth quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock valued at $398,000 after purchasing an additional 16,687 shares during the period. Jump Financial LLC bought a new position in KNOT Offshore Partners during the fourth quarter valued at $153,000. Finally, EWA LLC purchased a new stake in KNOT Offshore Partners in the fourth quarter worth $75,000. Hedge funds and other 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.