KNOT Offshore Partners (NYSE:KNOP) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

KNOT Offshore Partners LP (NYSE:KNOP) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.75 and traded as low as $6.01. KNOT Offshore Partners shares last traded at $6.08, with a volume of 72,646 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

KNOT Offshore Partners Price Performance

The stock has a market cap of $208.20 million, a P/E ratio of 121.40 and a beta of 0.76. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a 50-day moving average price of $6.46 and a 200-day moving average price of $6.76.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The firm had revenue of $74.42 million during the quarter, compared to analysts’ expectations of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same period in the previous year, the company earned $0.27 earnings per share. On average, analysts forecast that KNOT Offshore Partners LP will post 0.15 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were paid a $0.026 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.10 annualized dividend and a dividend yield of 1.71%. KNOT Offshore Partners’s payout ratio is 200.00%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of KNOT Offshore Partners during the second quarter valued at approximately $229,000. Marshall Wace LLP grew its stake 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 worth $1,023,000 after buying an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in KNOT Offshore Partners by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after buying an additional 41,100 shares in the last quarter. Hedge funds and other 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.