KNOT Offshore Partners (NYSE:KNOP) Stock Rating Lowered by StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

KNOT Offshore Partners Stock Down 0.9 %

Shares of NYSE KNOP opened at $6.91 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $7.38 and its two-hundred day moving average is $6.34. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The firm has a market cap of $235.25 million, a price-to-earnings ratio of -9.09 and a beta of 0.75.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The firm had revenue of $74.42 million during the quarter, compared to analysts’ expectations of $69.84 million. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. During the same quarter in the prior year, the firm posted $0.27 EPS. Research analysts predict that KNOT Offshore Partners will post -0.07 EPS for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in KNOT Offshore Partners in the second quarter valued at $229,000. Marshall Wace LLP grew its position in shares of KNOT Offshore Partners by 297.5% during the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after buying an additional 87,283 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of KNOT Offshore Partners by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after buying an additional 41,100 shares during the period. ORG Partners LLC acquired a new stake in KNOT Offshore Partners in the first quarter valued at approximately $37,000. Finally, Valeo Financial Advisors LLC purchased a new position in KNOT Offshore Partners in the first quarter worth approximately $57,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

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.