KNOT Offshore Partners (NYSE:KNOP) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of KNOT Offshore Partners LP (NYSE:KNOP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.44 and traded as low as $5.29. KNOT Offshore Partners shares last traded at $5.59, with a volume of 169,136 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

KNOT Offshore Partners Price Performance

The company’s 50 day moving average price is $5.82 and its 200 day moving average price is $6.44. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.42 and a current ratio of 0.44. The company has a market cap of $191.70 million, a price-to-earnings ratio of -13.00 and a beta of 0.74.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Wednesday, December 4th. The shipping company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. During the same quarter last year, the business earned $0.37 earnings per share. On average, equities research analysts predict that KNOT Offshore Partners LP will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Monday, January 27th will be issued a dividend of $0.026 per share. The ex-dividend date is Monday, January 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.86%. KNOT Offshore Partners’s dividend payout ratio is -23.26%.

Institutional Trading of KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in KNOP. Cubist Systematic Strategies LLC bought a new stake in KNOT Offshore Partners during the 2nd quarter worth about $229,000. FNY Investment Advisers LLC lifted its position in shares of KNOT Offshore Partners by 8.8% during the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock worth $756,000 after purchasing an additional 11,200 shares in the last quarter. Marshall Wace LLP grew its stake 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 valued at $1,023,000 after purchasing an additional 87,283 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of KNOT Offshore Partners by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock valued at $3,030,000 after purchasing an additional 31,792 shares in the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.

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.