Short Interest in KNOT Offshore Partners LP (NYSE:KNOP) Expands By 6.2%

KNOT Offshore Partners LP (NYSE:KNOP) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 323,800 shares, a growth of 6.2% from the August 15th total of 305,000 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 113,900 shares, the days-to-cover ratio is presently 2.8 days.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

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. Marshall Wace LLP raised its stake in KNOT Offshore Partners by 297.5% during 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 period. Renaissance Technologies LLC increased its position in shares of KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after acquiring an additional 41,100 shares during the last quarter. Jump Financial LLC bought a new stake in KNOT Offshore Partners during the fourth quarter worth $153,000. Cubist Systematic Strategies LLC bought a new position in KNOT Offshore Partners during the second quarter worth about $229,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at approximately $57,000. 26.82% of the stock is owned by institutional investors and hedge funds.

KNOT Offshore Partners Stock Down 2.0 %

NYSE:KNOP traded down $0.14 during trading hours on Tuesday, hitting $6.75. 30,386 shares of the stock traded hands, compared to its average volume of 94,637. The firm has a market cap of $229.80 million, a price-to-earnings ratio of -9.08 and a beta of 0.75. The firm has a 50 day moving average price of $7.18 and a 200 day moving average price of $6.41. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.57. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) 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). KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. The company had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities research analysts anticipate that KNOT Offshore Partners will post 0.15 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were paid a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, July 29th. KNOT Offshore Partners’s dividend payout ratio is -13.16%.

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.