KNOT Offshore Partners LP (NYSE:KNOP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other research firms have also commented on KNOP. ValuEngine lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research downgraded shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.

KNOT Offshore Partners (NYSE:KNOP) traded down 1.3940% during mid-day trading on Tuesday, hitting $23.0245. 81,142 shares of the company were exchanged. The company has a market capitalization of $696.54 million, a P/E ratio of 10.4704 and a beta of 0.77. The company’s 50-day moving average is $23.27 and its 200 day moving average is $22.91. KNOT Offshore Partners has a 12-month low of $18.90 and a 12-month high of $24.67.

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Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of KNOT Offshore Partners by 5.4% during the 1st quarter. Wells Fargo & Company MN now owns 25,845 shares of the shipping company’s stock valued at $603,000 after purchasing an additional 1,320 shares in the last quarter. California Public Employees Retirement System increased its holdings in KNOT Offshore Partners by 1.6% in the first quarter. California Public Employees Retirement System now owns 32,400 shares of the shipping company’s stock worth $755,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in KNOT Offshore Partners in the first quarter worth approximately $215,000. Morgan Stanley increased its holdings in KNOT Offshore Partners by 27.5% in the first quarter. Morgan Stanley now owns 274,451 shares of the shipping company’s stock worth $6,394,000 after purchasing an additional 59,260 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in KNOT Offshore Partners by 105.0% in the first quarter. Renaissance Technologies LLC now owns 180,500 shares of the shipping company’s stock valued at $4,206,000 after buying an additional 92,444 shares during the period. 50.14% of the stock is currently owned by institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.

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