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

KNOT Offshore Partners (NYSE:KNOP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

KNOT Offshore Partners Price Performance

NYSE:KNOP opened at $6.76 on Wednesday. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The firm has a market capitalization of $231.81 million, a price-to-earnings ratio of -15.72 and a beta of 0.70. The stock’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $6.00. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, March 19th. The shipping company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.51. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The business had revenue of $91.26 million for the quarter, compared to analysts’ expectations of $76.50 million. On average, analysts anticipate that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its position in shares of KNOT Offshore Partners by 15.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock valued at $74,000 after purchasing an additional 1,865 shares during the last quarter. Transce3nd LLC acquired a new position in KNOT Offshore Partners in the 4th quarter valued at $77,000. Virtu Financial LLC bought a new position in KNOT Offshore Partners during the 4th quarter worth $135,000. Jane Street Group LLC acquired a new stake in shares of KNOT Offshore Partners during the fourth quarter worth $184,000. Finally, Trexquant Investment LP boosted its position in shares of KNOT Offshore Partners by 170.4% in the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock valued at $207,000 after acquiring an additional 23,907 shares during the period. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Company Profile

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.