KNOT Offshore Partners (NYSE:KNOP) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

KNOT Offshore Partners LP (NYSE:KNOP) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.68 and traded as low as $5.93. KNOT Offshore Partners shares last traded at $6.21, with a volume of 180,090 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research note on Friday, December 6th.

KNOT Offshore Partners Stock Up 5.4 %

The business has a 50 day simple moving average of $5.84 and a 200 day simple moving average of $6.68. The company has a market capitalization of $212.98 million, a price-to-earnings ratio of -14.44 and a beta of 0.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42.

KNOT Offshore Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a $0.026 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, October 28th. KNOT Offshore Partners’s payout ratio is -23.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KNOP. Renaissance Technologies LLC lifted its stake in 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 worth $11,498,000 after acquiring an additional 41,100 shares during the last quarter. JPMorgan Chase & Co. raised its stake in KNOT Offshore Partners by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock valued at $3,030,000 after buying an additional 31,792 shares in the last quarter. Marshall Wace LLP raised its stake in KNOT Offshore Partners by 297.5% in the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 87,283 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in KNOT Offshore Partners during the 2nd quarter worth about $229,000. Institutional investors and hedge funds 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.