KNOT Offshore Partners (NYSE:KNOP) Downgraded to "Hold" Rating by Wall Street Zen

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

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

KNOT Offshore Partners Stock Down 0.6%

Shares of NYSE:KNOP traded down $0.04 during trading on Friday, reaching $6.28. 4,579 shares of the stock traded hands, compared to its average volume of 74,715. The stock has a 50-day moving average of $6.53 and a two-hundred day moving average of $6.01. KNOT Offshore Partners has a 52-week low of $5.28 and a 52-week high of $9.11. 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 stock has a market cap of $215.35 million, a P/E ratio of -14.60 and a beta of -0.08.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $84.03 million for the quarter, compared to the consensus estimate of $79.74 million. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. As a group, sell-side analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KNOT Offshore Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA acquired a new stake in KNOT Offshore Partners during the 1st quarter worth approximately $63,000. Cubist Systematic Strategies LLC boosted its position in shares of 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 valued at $74,000 after purchasing an additional 1,865 shares during the period. Transce3nd LLC acquired a new position in KNOT Offshore Partners during the fourth quarter worth approximately $77,000. Sowell Financial Services LLC acquired a new position in KNOT Offshore Partners in the first quarter valued at $82,000. Finally, EWA LLC acquired a new position in shares of KNOT Offshore Partners in the first quarter valued at approximately $85,000. Institutional investors and hedge funds 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.