Fearnley Fonds Upgrades KNOT Offshore Partners (NYSE:KNOP) to Strong-Buy

KNOT Offshore Partners (NYSE:KNOP) was upgraded by equities researchers at Fearnley Fonds to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th.

KNOT Offshore Partners Price Performance

Shares of NYSE KNOP opened at $7.54 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. The company’s 50-day moving average price is $5.79 and its 200 day moving average price is $6.00. KNOT Offshore Partners has a 52 week low of $4.94 and a 52 week high of $9.11. The stock has a market cap of $258.60 million, a price-to-earnings ratio of -17.53 and a beta of 0.70.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Wednesday, March 19th. The shipping company reported $0.55 EPS for the quarter, beating the consensus estimate 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%. The business had revenue of $91.26 million for the quarter, compared to analyst estimates of $76.50 million. As a group, research analysts forecast that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of KNOT Offshore Partners

A number of hedge funds have recently bought and sold shares of KNOP. Cubist Systematic Strategies LLC lifted its stake in shares of KNOT Offshore Partners by 15.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock worth $74,000 after purchasing an additional 1,865 shares during the period. Two Sigma Investments LP increased its stake in KNOT Offshore Partners by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock valued at $1,033,000 after purchasing an additional 2,418 shares during the last quarter. FNY Investment Advisers LLC lifted its position in KNOT Offshore Partners by 8.8% during the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock worth $756,000 after buying an additional 11,200 shares during the period. Transce3nd LLC acquired a new stake in KNOT Offshore Partners in the 4th quarter worth about $77,000. Finally, Two Sigma Advisers LP increased its stake in shares of KNOT Offshore Partners by 8.0% during the 4th quarter. Two Sigma Advisers LP now owns 300,800 shares of the shipping company’s stock valued at $1,639,000 after acquiring an additional 22,300 shares during the last quarter. 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.