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

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

A number of equities research analysts have commented on the company. Barclays reiterated a “buy” rating and issued a $304.00 price target on shares of Adobe in a research report on Monday, March 18th. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Finally, Zacks Investment Research lowered Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th.

Shares of KNOT Offshore Partners stock traded up $0.07 on Friday, hitting $20.09. 75,344 shares of the company’s stock traded hands, compared to its average volume of 88,452. KNOT Offshore Partners has a one year low of $17.18 and a one year high of $22.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.42 and a quick ratio of 0.40. The firm’s fifty day moving average price is $19.21. The company has a market cap of $654.54 million, a P/E ratio of 8.00 and a beta of 0.58.

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

Several institutional investors have recently made changes to their positions in KNOP. Kayne Anderson Capital Advisors LP boosted its position in shares of KNOT Offshore Partners by 29.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock valued at $45,121,000 after purchasing an additional 547,500 shares in the last quarter. First Trust Advisors LP boosted its position in shares of KNOT Offshore Partners by 23.3% during the 1st 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 in the last quarter. Green Square Capital LLC boosted its position in shares of KNOT Offshore Partners by 4.9% during the 4th 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 in the last quarter. Deutsche Bank AG boosted its position in shares of KNOT Offshore Partners by 338.2% during the 4th quarter. Deutsche Bank AG now owns 20,900 shares of the shipping company’s stock valued at $374,000 after purchasing an additional 16,131 shares in the last quarter. Finally, AJO LP bought a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at about $279,000. Institutional investors own 34.83% of the company’s stock.

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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