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

KNOT Offshore Partners (NYSE:KNOP) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

KNOP has been the subject of a number of other research reports. Zacks Research lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Alliance Global Partners restated a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. Finally, B. Riley Financial raised shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

KNOT Offshore Partners Stock Performance

KNOP stock opened at $10.29 on Friday. KNOT Offshore Partners has a twelve month low of $5.45 and a twelve month high of $11.15. The firm has a market cap of $350.41 million, a price-to-earnings ratio of 15.14 and a beta of -0.12. The business’s fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $9.94. The company has a quick ratio of 0.25, a current ratio of 0.26 and a debt-to-equity ratio of 1.07.

Institutional Trading of KNOT Offshore Partners

A number of hedge funds have recently added to or reduced their stakes in KNOP. Alpine Global Management LLC purchased a new position in KNOT Offshore Partners during the 4th quarter valued at about $1,294,000. Virtu Financial LLC bought a new stake in shares of KNOT Offshore Partners in the 4th quarter valued at about $138,000. XTX Topco Ltd purchased a new stake in shares of KNOT Offshore Partners in the 4th quarter worth approximately $277,000. Occudo Quantitative Strategies LP purchased a new stake in shares of KNOT Offshore Partners in the 4th quarter worth approximately $144,000. Finally, Millennium Management LLC boosted its stake in shares of KNOT Offshore Partners by 56.5% during the fourth quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock valued at $1,506,000 after purchasing an additional 52,538 shares in the last quarter. 26.82% of the stock is owned by hedge funds and other institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.