KNOT Offshore Partners (NYSE:KNOP) Upgraded at StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

KNOT Offshore Partners Price Performance

Shares of KNOT Offshore Partners stock opened at $6.38 on Wednesday. The company’s fifty day simple moving average is $5.66 and its two-hundred day simple moving average is $5.99. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The firm has a market cap of $218.81 million, a PE ratio of -14.84 and a beta of 0.70. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Wednesday, March 19th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.51. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The company had revenue of $91.26 million for the quarter, compared to analysts’ expectations of $76.50 million. As a group, equities analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current year.

Institutional Trading of KNOT Offshore Partners

Several large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in KNOT Offshore Partners by 15.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock worth $74,000 after purchasing an additional 1,865 shares in the last quarter. Transce3nd LLC bought a new stake in shares of KNOT Offshore Partners during the 4th quarter valued at about $77,000. Virtu Financial LLC purchased a new position in shares of KNOT Offshore Partners during the fourth quarter valued at about $135,000. Jane Street Group LLC purchased a new position in shares of KNOT Offshore Partners during the fourth quarter valued at about $184,000. Finally, Trexquant Investment LP raised its stake in KNOT Offshore Partners by 170.4% in the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock worth $207,000 after buying an additional 23,907 shares in the last quarter. Institutional investors 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.