KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by StockNews.com

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

KNOT Offshore Partners Stock Performance

Shares of KNOP opened at $5.70 on Friday. KNOT Offshore Partners has a 1 year low of $4.94 and a 1 year high of $9.11. The company has a market cap of $195.51 million, a price-to-earnings ratio of -13.26 and a beta of 0.74. 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 firm has a fifty day moving average of $6.21 and a 200-day moving average of $6.82.

Institutional Investors Weigh In On KNOT Offshore Partners

Several hedge funds and other institutional investors have recently bought and sold shares of KNOP. Marshall Wace LLP raised its position 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 acquiring an additional 87,283 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 worth $11,498,000 after buying an additional 41,100 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of KNOT Offshore Partners in the second quarter worth approximately $229,000. 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.