KNOT Offshore Partners (NYSE:KNOP) Downgraded by StockNews.com 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 Price Performance

KNOP opened at $5.27 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The company has a market cap of $179.42 million, a price-to-earnings ratio of -5.17 and a beta of 0.65. The stock has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $5.57. KNOT Offshore Partners has a 12-month low of $4.34 and a 12-month high of $7.00.

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

Institutional Trading of KNOT Offshore Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC raised its stake 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 valued at $7,831,000 after buying an additional 146,501 shares during the last quarter. Strategic Income Management LLC bought a new position in shares of KNOT Offshore Partners during the third quarter valued at $3,920,000. FNY Investment Advisers LLC raised its position in shares of KNOT Offshore Partners by 31.8% in the 4th quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after purchasing an additional 16,687 shares during the last quarter. Jump Financial LLC bought a new position in KNOT Offshore Partners in the 4th quarter worth about $153,000. Finally, EWA LLC purchased a new stake in KNOT Offshore Partners during the 4th quarter valued at about $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.