KNOT Offshore Partners (NYSE:KNOP) Stock Price Passes Below 200 Day Moving Average of $5.58

KNOT Offshore Partners LP (NYSE:KNOP)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.58 and traded as low as $5.20. KNOT Offshore Partners shares last traded at $5.20, with a volume of 39,847 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

KNOT Offshore Partners Price Performance

The firm’s 50-day moving average is $5.25 and its two-hundred day moving average is $5.58. The company has a market cap of $177.01 million, a P/E ratio of -5.10 and a beta of 0.65. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.70 and a quick ratio of 0.67.

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

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be given a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, April 26th. KNOT Offshore Partners’s dividend payout ratio is presently -9.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KNOP. Strategic Income Management LLC bought a new position in KNOT Offshore Partners during the third quarter valued at $3,920,000. 683 Capital Management LLC increased its position in KNOT Offshore Partners by 14.7% during the third quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock valued at $7,831,000 after acquiring an additional 146,501 shares during the last quarter. FNY Investment Advisers LLC increased its position 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 valued at $398,000 after acquiring an additional 16,687 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in KNOT Offshore Partners during the fourth quarter valued at $61,000. Finally, EWA LLC bought a new position in KNOT Offshore Partners during the fourth quarter valued at $75,000. Institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

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.