KNOT Offshore Partners (NYSE:KNOP) Stock Rating Lowered by StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

KNOT Offshore Partners Stock Up 0.2 %

Shares of KNOP stock traded up $0.01 during trading hours on Tuesday, hitting $5.54. 35,536 shares of the company were exchanged, compared to its average volume of 86,917. KNOT Offshore Partners has a 52 week low of $4.94 and a 52 week high of $9.11. The business has a 50 day moving average of $5.66 and a two-hundred day moving average of $6.02. The company has a market capitalization of $190.01 million, a PE ratio of -12.88 and a beta of 0.70. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52.

Institutional Trading of KNOT Offshore Partners

A number of large investors have recently added to or reduced their stakes in KNOP. JPMorgan Chase & Co. lifted its stake in KNOT Offshore Partners by 31.9% in the fourth quarter. JPMorgan Chase & Co. now owns 583,545 shares of the shipping company’s stock valued at $3,180,000 after acquiring an additional 141,213 shares during the last quarter. Millennium Management LLC lifted its stake in KNOT Offshore Partners by 123.5% in the fourth quarter. Millennium Management LLC now owns 141,503 shares of the shipping company’s stock valued at $771,000 after acquiring an additional 78,194 shares during the last quarter. 683 Capital Management LLC lifted its stake in KNOT Offshore Partners by 2.5% in the fourth quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company’s stock valued at $8,774,000 after acquiring an additional 39,800 shares during the last quarter. Jane Street Group LLC acquired a new stake in KNOT Offshore Partners in the fourth quarter valued at $184,000. Finally, Marshall Wace LLP lifted its stake in KNOT Offshore Partners by 19.0% in the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock valued at $1,112,000 after acquiring an additional 32,616 shares during the last quarter. Institutional investors and hedge funds own 26.82% of the company’s stock.

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.