KNOT Offshore Partners LP (NYSE:KNOP) Sees Significant Increase in Short Interest

KNOT Offshore Partners LP (NYSE:KNOP) was the target of a significant 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. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 69,300 shares, the days-to-cover ratio is presently 5.3 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC purchased a new position in shares of KNOT Offshore Partners during the first quarter worth $37,000. Cubist Systematic Strategies LLC acquired a new position in KNOT Offshore Partners in the 2nd quarter valued at about $229,000. Marshall Wace LLP increased its stake in KNOT Offshore Partners by 297.5% during the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after purchasing an additional 87,283 shares during the period. Finally, Renaissance Technologies LLC boosted its stake 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 purchasing an additional 41,100 shares during the period. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

KNOT Offshore Partners Price Performance

NYSE KNOP traded up $0.14 during trading hours on Friday, hitting $6.07. 705 shares of the company’s stock traded hands, compared to its average volume of 90,142. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72. The firm’s 50-day moving average is $6.70 and its 200-day moving average is $6.68. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The company has a market capitalization of $208.20 million, a PE ratio of 121.40 and a beta of 0.75.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). The firm had revenue of $74.42 million for 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 last year, the firm earned $0.27 earnings per share. Equities analysts forecast that KNOT Offshore Partners will post 0.15 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be given a $0.026 dividend. The ex-dividend date is Monday, October 28th. This represents a $0.10 dividend on an annualized basis and a yield of 1.71%. KNOT Offshore Partners’s dividend payout ratio is currently 200.00%.

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.