KNOT Offshore Partners (NYSE:KNOP) Stock Price Crosses Above 50-Day Moving Average of $6.00

Shares of KNOT Offshore Partners LP (NYSE:KNOP) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.00 and traded as high as $8.11. KNOT Offshore Partners shares last traded at $7.96, with a volume of 230,025 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised KNOT Offshore Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, May 24th.

KNOT Offshore Partners Price Performance

The business’s fifty day moving average price is $6.00 and its 200 day moving average price is $5.74. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.71 and a quick ratio of 0.67. The stock has a market cap of $270.96 million, a P/E ratio of -10.47 and a beta of 0.69.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.29. The business had revenue of $76.63 million during the quarter, compared to the consensus estimate of $70.66 million. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. Sell-side analysts forecast that KNOT Offshore Partners LP will post -0.07 EPS for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Monday, April 29th were given a dividend of $0.026 per share. The ex-dividend date was Friday, April 26th. This represents a $0.10 dividend on an annualized basis and a yield of 1.31%. KNOT Offshore Partners’s dividend payout ratio is currently -13.16%.

Hedge Funds Weigh In On KNOT Offshore Partners

Several large investors have recently modified their holdings of KNOP. 683 Capital Management LLC increased its position in KNOT Offshore Partners by 14.7% during 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 purchasing an additional 146,501 shares during the period. Jump Financial LLC acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter valued at about $153,000. FNY Investment Advisers LLC increased its position in 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 valued at $398,000 after buying an additional 16,687 shares in the last quarter. EWA LLC acquired a new position in KNOT Offshore Partners during the 4th quarter worth approximately $75,000. Finally, Valeo Financial Advisors LLC bought a new position in KNOT Offshore Partners in the first quarter worth approximately $57,000. 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.