KNOT Offshore Partners (NYSE:KNOP – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
KNOT Offshore Partners Price Performance
NYSE:KNOP traded up $0.01 on Tuesday, reaching $5.54. The stock had a trading volume of 35,536 shares, compared to its average volume of 86,917. The company has a market capitalization of $190.01 million, a P/E ratio of -12.88 and a beta of 0.70. KNOT Offshore Partners has a 1-year low of $4.94 and a 1-year high of $9.11. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52. The stock has a fifty day moving average price of $5.66 and a 200-day moving average price of $6.02.
Hedge Funds Weigh In On KNOT Offshore Partners
A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of KNOT Offshore Partners by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock worth $3,030,000 after buying an additional 31,792 shares during the last quarter. FNY Investment Advisers LLC increased its stake in KNOT Offshore Partners by 8.8% in the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock valued at $756,000 after purchasing an additional 11,200 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of KNOT Offshore Partners during the fourth quarter worth $135,000. Trexquant Investment LP increased its position in shares of KNOT Offshore Partners by 170.4% during the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock worth $207,000 after acquiring an additional 23,907 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of KNOT Offshore Partners by 19.0% during the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock worth $1,112,000 after acquiring an additional 32,616 shares in the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.
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.
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