KNOT Offshore Partners (NYSE:KNOP) Share Price Passes Below 200-Day Moving Average – Should You Sell?

KNOT Offshore Partners LP (NYSE:KNOP) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.44 and traded as low as $5.29. KNOT Offshore Partners shares last traded at $5.59, with a volume of 169,136 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

KNOT Offshore Partners Stock Performance

The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.42 and a current ratio of 0.44. The company has a market cap of $191.70 million, a price-to-earnings ratio of -13.00 and a beta of 0.74. The firm’s 50-day moving average price is $5.82 and its 200 day moving average price is $6.44.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Wednesday, December 4th. The shipping company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. During the same quarter last year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that KNOT Offshore Partners LP will post 0.12 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Monday, January 27th will be issued a $0.026 dividend. The ex-dividend date is Monday, January 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.86%. KNOT Offshore Partners’s dividend payout ratio is presently -23.26%.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in shares of KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 87,283 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 31,792 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in KNOT Offshore Partners in the second quarter valued at about $229,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of 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 worth $756,000 after acquiring an additional 11,200 shares in the last quarter. Institutional investors 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.