KNOT Offshore Partners LP (NYSE:KNOP) Short Interest Update

KNOT Offshore Partners LP (NYSE:KNOP) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 35,100 shares, a drop of 56.6% from the May 30th total of 80,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is currently 0.4 days.

A number of analysts recently commented on KNOP shares. TheStreet raised BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Zacks Investment Research downgraded Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Finally, Barclays reaffirmed a “buy” rating and set a $304.00 price target on shares of Adobe in a research report on Monday, March 18th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP increased its position in shares of KNOT Offshore Partners by 29.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock valued at $45,121,000 after acquiring an additional 547,500 shares during the last quarter. Green Square Capital LLC grew its holdings in KNOT Offshore Partners by 4.9% during the fourth quarter. Green Square Capital LLC now owns 578,512 shares of the shipping company’s stock valued at $10,373,000 after purchasing an additional 27,130 shares during the period. First Trust Advisors LP grew its holdings in KNOT Offshore Partners by 23.3% during the first quarter. First Trust Advisors LP now owns 416,473 shares of the shipping company’s stock valued at $7,909,000 after purchasing an additional 78,634 shares during the period. Naples Global Advisors LLC grew its holdings in KNOT Offshore Partners by 8.4% during the second quarter. Naples Global Advisors LLC now owns 37,280 shares of the shipping company’s stock valued at $712,000 after purchasing an additional 2,900 shares during the period. Finally, Ballentine Partners LLC grew its holdings in KNOT Offshore Partners by 8.3% during the first quarter. Ballentine Partners LLC now owns 28,598 shares of the shipping company’s stock valued at $543,000 after purchasing an additional 2,180 shares during the period. 34.83% of the stock is owned by institutional investors.

Shares of KNOP traded up $0.07 on Friday, reaching $20.09. 75,344 shares of the company’s stock traded hands, compared to its average volume of 88,452. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a market capitalization of $654.54 million, a PE ratio of 8.00 and a beta of 0.58. The business has a 50 day moving average price of $19.21. KNOT Offshore Partners has a 52-week low of $17.18 and a 52-week high of $22.75.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Thursday, May 23rd. The shipping company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.29). The business had revenue of $70.55 million for the quarter, compared to analysts’ expectations of $69.84 million. KNOT Offshore Partners had a net margin of 22.81% and a return on equity of 9.95%. As a group, analysts forecast that KNOT Offshore Partners will post 2.01 earnings per share for the current year.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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