StockNews.com Downgrades KNOT Offshore Partners (NYSE:KNOP) to Hold

KNOT Offshore Partners (NYSE:KNOP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

KNOT Offshore Partners Price Performance

NYSE:KNOP opened at $6.51 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76. The stock’s 50-day simple moving average is $6.85 and its 200 day simple moving average is $6.61. The company has a market cap of $221.63 million, a P/E ratio of -8.57 and a beta of 0.75. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly 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). The business had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same period last year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that KNOT Offshore Partners will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On KNOT Offshore Partners

Several institutional investors have recently made changes to their positions in KNOP. Marshall Wace LLP increased its holdings in shares of KNOT Offshore Partners by 297.5% during 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 in the last quarter. Renaissance Technologies LLC increased its holdings in KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after purchasing an additional 41,100 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in KNOT Offshore Partners in the second quarter valued at $229,000. Finally, ORG Partners LLC acquired a new stake in KNOT Offshore Partners in the first quarter valued at $37,000. 26.82% of the stock is currently owned by institutional investors.

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.