KNOT Offshore Partners (NYSE:KNOP) Rating Increased to Buy at StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

KNOT Offshore Partners Stock Performance

KNOP opened at $5.70 on Friday. The firm has a market capitalization of $195.51 million, a P/E ratio of -13.26 and a beta of 0.74. The stock’s 50 day moving average price is $6.21 and its two-hundred day moving average price is $6.82. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in shares of KNOT Offshore Partners in the second quarter valued at approximately $229,000. Marshall Wace LLP grew its position in shares of KNOT Offshore Partners by 297.5% in the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after purchasing an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in KNOT Offshore Partners by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after buying an additional 41,100 shares in the last quarter. Institutional investors and hedge funds 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.