KNOT Offshore Partners LP (NYSE:KNOP) Short Interest Up 6.2% in August

KNOT Offshore Partners LP (NYSE:KNOP) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 323,800 shares, a growth of 6.2% from the August 15th total of 305,000 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 113,900 shares, the short-interest ratio is presently 2.8 days.

Institutional Investors Weigh In On KNOT Offshore Partners

Several hedge funds have recently added to or reduced their stakes in KNOP. ORG Partners LLC bought a new position in shares of KNOT Offshore Partners during the first quarter valued at $37,000. Valeo Financial Advisors LLC purchased a new stake in KNOT Offshore Partners during the 1st quarter valued at about $57,000. Cubist Systematic Strategies LLC purchased a new stake in KNOT Offshore Partners during the 2nd quarter valued at about $229,000. Jump Financial LLC bought a new stake in KNOT Offshore Partners during the 4th quarter valued at about $153,000. Finally, Marshall Wace LLP raised its holdings in KNOT Offshore Partners by 297.5% in 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 during the last quarter. 26.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.

KNOT Offshore Partners Stock Up 0.7 %

Shares of KNOT Offshore Partners stock traded up $0.05 during trading on Wednesday, hitting $6.81. The company’s stock had a trading volume of 30,920 shares, compared to its average volume of 94,283. KNOT Offshore Partners has a 52 week low of $4.94 and a 52 week high of $9.11. The company has a market capitalization of $231.85 million, a PE ratio of -8.96 and a beta of 0.75. The company has a fifty day simple moving average of $7.16 and a two-hundred day simple moving average of $6.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last announced its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. The business had revenue of $74.42 million for the quarter, compared to the consensus estimate of $69.84 million. During the same period in the prior year, the business posted $0.27 EPS. Equities research analysts predict that KNOT Offshore Partners will post 0.15 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were given a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, July 29th. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -13.16%.

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.