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

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

KNOT Offshore Partners Trading Down 3.9 %

Shares of KNOP opened at $5.20 on Tuesday. The stock’s fifty day simple moving average is $5.25 and its 200-day simple moving average is $5.58. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $177.01 million, a PE ratio of -5.10 and a beta of 0.65. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.23). KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. The business had revenue of $73.03 million for the quarter, compared to analyst estimates of $70.96 million. As a group, research analysts predict that KNOT Offshore Partners will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Strategic Income Management LLC acquired a new position in KNOT Offshore Partners in the third quarter valued at about $3,920,000. 683 Capital Management LLC increased its stake in shares of KNOT Offshore Partners by 14.7% in the 3rd quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock valued at $7,831,000 after acquiring an additional 146,501 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter valued at approximately $153,000. FNY Investment Advisers LLC boosted its stake in KNOT Offshore Partners by 31.8% during the 4th quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after acquiring an additional 16,687 shares during the last quarter. Finally, EWA LLC acquired a new position in KNOT Offshore Partners during the fourth quarter valued at approximately $75,000. 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.