KNOT Offshore Partners (NYSE:KNOP) Rating Increased to Strong-Buy at StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

KNOT Offshore Partners Stock Performance

NYSE KNOP opened at $5.26 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $5.29 and its two-hundred day moving average is $5.61. KNOT Offshore Partners has a 12-month low of $4.28 and a 12-month high of $7.00. The stock has a market capitalization of $179.05 million, a price-to-earnings ratio of -5.16 and a beta of 0.67.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.23). The business had revenue of $73.03 million for the quarter, compared to analyst estimates of $70.96 million. KNOT Offshore Partners had a positive return on equity of 2.86% and a negative net margin of 11.81%. Research analysts expect that KNOT Offshore Partners will post -0.31 EPS for the current year.

Institutional Trading of KNOT Offshore Partners

Several large investors have recently modified their holdings of KNOP. Valeo Financial Advisors LLC acquired a new position in KNOT Offshore Partners in the first quarter worth about $57,000. Atria Wealth Solutions Inc. bought a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $61,000. EWA LLC bought a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $75,000. Jump Financial LLC bought a new stake in KNOT Offshore Partners during the fourth quarter worth approximately $153,000. Finally, FNY Investment Advisers LLC raised its holdings in KNOT Offshore Partners by 31.8% during the fourth quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after purchasing an additional 16,687 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 owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.