why KNOT Offshore Partners LP [KNOP] is a Good Choice for Investors After New Price Target of $15.50

KNOT Offshore Partners LP [NYSE: KNOP] stock went on a downward path that fall over -33.62% on Thursday, amounting to a one-week price decrease of less than -26.24%. The company report on January 11, 2023 that KNOT Offshore Partners LP Announces Fourth Quarter 2022 Cash Distribution.


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KNOT Offshore Partners LP (NYSE:KNOP) (“The Partnership”).

Over the last 12 months, KNOP stock dropped by -53.75%. The one-year KNOT Offshore Partners LP stock forecast points to a potential upside of 55.03. The average equity rating for KNOP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $225.69 million, with 33.92 million shares outstanding and 24.21 million shares in the current float. Compared to the average trading volume of 266.06K shares, KNOP stock reached a trading volume of 4625835 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on KNOT Offshore Partners LP [KNOP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KNOP shares is $15.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KNOP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for KNOT Offshore Partners LP shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 12, 2023. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on December 13, 2022, representing the official price target for KNOT Offshore Partners LP stock. Previously, the target price had yet another raise from $15 to $17, while Barclays kept a Underweight rating on KNOP stock.

The Average True Range (ATR) for KNOT Offshore Partners LP is set at 0.75, with the Price to Sales ratio for KNOP stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 1.53. Price to Free Cash Flow for KNOP in the course of the last twelve months was 5.82 with Quick ratio for the last quarter at 0.20.

KNOP Stock Performance Analysis:

KNOT Offshore Partners LP [KNOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.24. With this latest performance, KNOP shares dropped by -27.85% in over the last four-week period, additionally sinking by -60.55% over the last 6 months – not to mention a drop of -53.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KNOP stock in for the last two-week period is set at 24.50, with the RSI for the last a single of trading hit 21.89, and the three-weeks RSI is set at 25.90 for KNOT Offshore Partners LP [KNOP]. The present Moving Average for the last 50 days of trading for this stock 11.48, while it was recorded at 9.63 for the last single week of trading, and 15.31 for the last 200 days.

Insight into KNOT Offshore Partners LP Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and KNOT Offshore Partners LP [KNOP] shares currently have an operating margin of +36.64 and a Gross Margin at +38.93. KNOT Offshore Partners LP’s Net Margin is presently recorded at +18.86.

Return on Equity for this stock inclined to 7.74, with Return on Assets sitting at 3.07.

KNOT Offshore Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

KNOP Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KNOP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for KNOT Offshore Partners LP go to 11.10%.

KNOT Offshore Partners LP [KNOP] Insider Position Details

There are presently around $38 million, or 16.10% of KNOP stock, in the hands of institutional investors. The top three institutional holders of KNOP stocks are: INVESCO LTD. with ownership of 1,776,804, which is approximately 0% of the company’s market cap and around 27.72% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 1,146,956 shares of the stock with an approximate value of $7.99 million in KNOP stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $6.75 million in KNOP stock with ownership of nearly -2.428% of the company’s market capitalization.

Positions in KNOT Offshore Partners LP stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 21 institutional holders increased their position in KNOT Offshore Partners LP [NYSE:KNOP] by around 279,532 shares. Additionally, 28 investors decreased positions by around 690,231 shares, while 9 investors held positions by with 4,443,774 shares. The mentioned changes placed institutional holdings at 5,413,537 shares, according to the latest SEC report filing. KNOP stock had 14 new institutional investments in for a total of 198,398 shares, while 9 institutional investors sold positions of 58,282 shares during the same period.

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