KNOT Offshore Partners (NYSE:KNOP) Share Price Passes Above Two Hundred Day Moving Average of $18.89

KNOT Offshore Partners LP (NYSE:KNOP) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.89 and traded as high as $20.06. KNOT Offshore Partners shares last traded at $19.96, with a volume of 85,870 shares.

Separately, Zacks Investment Research downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Friday, October 1st.

The business has a 50-day moving average of $18.44 and a 200-day moving average of $18.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market capitalization of $656.86 million, a price-to-earnings ratio of 9.98 and a beta of 1.36.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Wednesday, August 25th. The shipping company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.91). The firm had revenue of $70.94 million during the quarter, compared to analyst estimates of $68.60 million. KNOT Offshore Partners had a net margin of 23.59% and a return on equity of 15.93%. Equities analysts predict that KNOT Offshore Partners LP will post 2.45 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its position in KNOT Offshore Partners by 100.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 9,000 shares of the shipping company’s stock valued at $169,000 after acquiring an additional 4,500 shares in the last quarter. Morgan Stanley grew its position in KNOT Offshore Partners by 10.7% in the 2nd quarter. Morgan Stanley now owns 332,715 shares of the shipping company’s stock valued at $6,648,000 after acquiring an additional 32,213 shares in the last quarter. Bramshill Investments LLC acquired a new position in KNOT Offshore Partners in the 2nd quarter valued at about $1,993,000. Renaissance Technologies LLC grew its position in KNOT Offshore Partners by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,355,017 shares of the shipping company’s stock valued at $27,073,000 after acquiring an additional 123,600 shares in the last quarter. Finally, LPL Financial LLC grew its position in KNOT Offshore Partners by 6.3% in the 2nd quarter. LPL Financial LLC now owns 29,865 shares of the shipping company’s stock valued at $597,000 after acquiring an additional 1,777 shares in the last quarter. 21.13% of the stock is owned by institutional investors.

KNOT Offshore Partners Company Profile (NYSE:KNOP)

KNOT Offshore Partners LP engages in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. The company was founded on February 21, 2013 and is headquartered in Aberdeen, the United Kingdom.

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