KNOP Stock Summary and Trading Ideas (Knot Offshore Partners LP Common Units Representing Limited Partner Interests | NYSE:KNOP)

KNOT Offshore Partners LP owns, operates, and shuttles tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. The Partnership is formed for acquiring ownership interests in over four shuttle tankers owned by Knutsen NYK Offshore Tankers AS (KNOT). It operates through the shuttle tanker market segment.

Knot Offshore Partners LP Common Units Representing Limited Partner Interests trades on the NYSE stock market under the symbol KNOP.

As of April 18, 2024, KNOP stock price climbed to $5.02 with 94,667 million shares trading.

KNOP has a beta of -0.04, meaning it tends to be less sensitive to market movements. KNOP has a correlation of 0.00 to the broad based SPY ETF.

KNOP has a market cap of $175.39 million. This is considered a Micro Cap stock.

Last quarter Knot Offshore Partners LP Common Units Representing Limited Partner Interests reported $73 million in Revenue and -$.16 earnings per share. This beat revenue expectation by $2 million and missed earnings estimates by -$.21.

In the last 3 years, KNOP stock traded as high as $20.34 and as low as $4.28.

KNOP has underperformed the market in the last year with a price return of +1.7% while the SPY ETF gained +22.3%. KNOP has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -14.3% and -5.3%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

KNOP support price is $4.87 and resistance is $5.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that KNOP stock will trade within this expected range on the day.