KNOT Offshore Partners (NYSE:KNOP) Rating Lowered to Hold at Wall Street Zen

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Fearnley Fonds upgraded shares of KNOT Offshore Partners to a "strong-buy" rating in a research report on Tuesday, April 1st.

KNOT Offshore Partners Price Performance

NYSE:KNOP traded down $0.02 during midday trading on Friday, hitting $6.30. The company had a trading volume of 71,968 shares, compared to its average volume of 90,520. KNOT Offshore Partners has a 52-week low of $5.28 and a 52-week high of $9.11. The stock's fifty day moving average price is $6.53 and its 200-day moving average price is $6.01. The company has a market capitalization of $216.07 million, a PE ratio of -14.65 and a beta of -0.08. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. The firm had revenue of $84.03 million during the quarter, compared to the consensus estimate of $79.74 million. As a group, research analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of large investors have recently added to or reduced their stakes in KNOP. Compagnie Lombard Odier SCmA acquired a new position in shares of KNOT Offshore Partners in the 1st quarter valued at $63,000. Cubist Systematic Strategies LLC increased its holdings in shares of KNOT Offshore Partners by 15.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company's stock valued at $74,000 after purchasing an additional 1,865 shares during the last quarter. Transce3nd LLC purchased a new position in KNOT Offshore Partners in the fourth quarter worth approximately $77,000. Sowell Financial Services LLC purchased a new position in KNOT Offshore Partners in the first quarter worth approximately $82,000. Finally, EWA LLC purchased a new position in KNOT Offshore Partners in the first quarter worth approximately $85,000. 26.82% of the stock is currently owned by institutional investors.

About KNOT Offshore Partners

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.