Wall Street Zen Upgrades KNOT Offshore Partners (NYSE:KNOP) to "Buy"

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

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

KNOT Offshore Partners Stock Down 1.6%

Shares of KNOP traded down $0.11 during mid-day trading on Friday, reaching $6.43. The company had a trading volume of 35,272 shares, compared to its average volume of 85,917. 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 firm has a 50-day moving average price of $6.48 and a 200 day moving average price of $6.03. KNOT Offshore Partners has a 52 week low of $5.28 and a 52 week high of $9.11. The company has a market capitalization of $220.36 million, a price-to-earnings ratio of -14.94 and a beta of -0.11.

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

Hedge Funds Weigh In On KNOT Offshore Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNOP. Compagnie Lombard Odier SCmA bought a new position in KNOT Offshore Partners in the 1st quarter valued at approximately $63,000. Cubist Systematic Strategies LLC raised its stake in KNOT Offshore Partners by 15.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company's stock valued at $74,000 after buying an additional 1,865 shares during the last quarter. Transce3nd LLC purchased a new stake in KNOT Offshore Partners during the 4th quarter valued at $77,000. Sowell Financial Services LLC purchased a new stake in KNOT Offshore Partners during the 1st quarter valued at $82,000. Finally, EWA LLC purchased a new stake in KNOT Offshore Partners during the 1st quarter valued at $85,000. 26.82% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.