KNOT Offshore Partners LP (NYSE:KNOP) Short Interest Up 7.0% in October

by · The Markets Daily

KNOT Offshore Partners LP (NYSE:KNOP – Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 365,200 shares, an increase of 7.0% from the September 30th total of 341,300 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 69,300 shares, the short-interest ratio is currently 5.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNOP. Marshall Wace LLP raised 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 purchasing an additional 87,283 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in KNOT Offshore Partners in the second quarter valued at $229,000. ORG Partners LLC acquired a new stake in KNOT Offshore Partners in the first quarter valued at $37,000. Finally, Renaissance Technologies LLC lifted its holdings 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 worth $11,498,000 after buying an additional 41,100 shares during the last quarter. Institutional investors and hedge funds own 26.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on KNOP

KNOT Offshore Partners Stock Up 2.4 %

Shares of NYSE:KNOP traded up $0.14 during trading on Thursday, hitting $6.07. The company’s stock had a trading volume of 72,476 shares, compared to its average volume of 90,142. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11. The business has a 50 day moving average price of $6.70 and a two-hundred day moving average price of $6.68. 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 company has a market capitalization of $206.65 million, a PE ratio of -7.99 and a beta of 0.75.

KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last released its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The company had revenue of $74.42 million for the quarter, compared to analyst estimates 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 firm earned $0.27 earnings per share. As a group, research analysts expect that KNOT Offshore Partners will post 0.15 EPS for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.10 annualized dividend and a yield of 1.71%. KNOT Offshore Partners’s dividend payout ratio (DPR) is -13.16%.

About KNOT Offshore Partners

(Get Free Report)

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.

Further Reading