KNOT Offshore Partners LP (KNOP): Choosing The Technical Investor Route


KNOT Offshore Partners LP (NYSE:KNOP) does about 480.77K shares in volume on a normal day but saw 181584 shares change hands in Friday trading. The company now has a market cap of 213.58M USD. Its current market price is $6.48, marking a decrease of -0.77% compared to the previous close of $6.53. The 52 week high reached by this stock is $18.85 whilst the lowest price level in 52 weeks is $5.37. The script in recent trading has seen the stock touch a high of $6.55 and a low of $6.34.

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KNOT Offshore Partners LP (KNOP) has a 20-day trading average at $6.01 and the current price is -65.62% off the 52-week high compared with 20.67% distance from its 52-week low. The 50-day simple moving average of the closing price is $7.72 and its 200-day simple moving average is $13.87. If we look at the stock’s price movements over the week, volatility stands at 5.13%, which decreases to 4.86% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 44.33 to suggest the stock is neutral.

The consensus objective for the share price is $10.50, suggesting that the stock has a potential upside of 38.29% over the period.

FactSet Research has provided data showing that 2 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.

Alliance Global Partners downgraded the stock to “Sell” from Buy on January 12, 2023 at a price target of $6. Alliance Global Partners initiated its price target at $16.

The current price level is 8.78%, -16.73%, and -53.46% away from its SMA20, SMA50, and SMA200 respectively, with the KNOP price moving above the 50-day SMA on February 17. KNOT Offshore Partners LP (KNOP) stock is up 5.37% over the week and 13.29% over the past month. Its price is -32.71% year-to-date and -56.86% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.47 above consensus estimates by $0.29. The company’s next earnings report is expected on 05/10/2023, with forecasts estimating quarterly EPS at $0.17 and $1.69 for whole year. KNOP’s earnings per share are forecast to grow by 3.70% this year and -91.70% over next year. Expected sales for next quarter are $63.34 million, which analysts say will come at $266 million for the current fiscal year and next year at $258.04 million. In addition, estimates put the company’s current quarterly revenue at an average of $69.03 million.

Its 12-month price target is $10.50. To reach the target analysts have set, the stock logically needs to grow 38.29 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $6.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $15.00.

Outstanding shares total 33.92M with insiders holding 27.72% of the shares and institutional holders owning 16.06% of the company’s common stock. The company has a return on investment of 4.70% and return on equity of 11.80%. The price to earnings ratio (P/E ratio) amounts to 3.47 while the forward price to earnings ratio is 45.00. The beta has a value of 0.85. Price to book ratio is 0.38 and price to sales ratio is 0.79.


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