Blueknight Energy Partners LP (NASDAQ:BKEP) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 300,000 shares, a decline of 18.4% from the May 30th total of 367,600 shares. Based on an average daily volume of 161,700 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.8% of the company’s stock are sold short.

A number of brokerages have issued reports on BKEP. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $2.31.

Shares of NASDAQ:BKEP opened at $1.42 on Friday. The company’s fifty day moving average is $1.15. The stock has a market capitalization of $57.82 million, a PE ratio of -4.90 and a beta of 1.81. Blueknight Energy Partners has a 12-month low of $1.00 and a 12-month high of $3.45.

Blueknight Energy Partners (NASDAQ:BKEP) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The business had revenue of $93.73 million during the quarter. Blueknight Energy Partners had a negative return on equity of 3.90% and a negative net margin of 9.85%. As a group, equities analysts predict that Blueknight Energy Partners will post -0.1 EPS for the current fiscal year.

An institutional investor recently raised its position in Blueknight Energy Partners stock. Geode Capital Management LLC raised its stake in shares of Blueknight Energy Partners LP (NASDAQ:BKEP) by 115.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,800 shares of the pipeline company’s stock after buying an additional 28,310 shares during the quarter. Geode Capital Management LLC owned about 0.13% of Blueknight Energy Partners worth $60,000 at the end of the most recent quarter. 17.25% of the stock is currently owned by institutional investors and hedge funds.

Blueknight Energy Partners Company Profile

Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company operates through four segments: Asphalt Terminalling Services, Crude Oil Terminalling Services, Crude Oil Pipeline Services, and Crude Oil Trucking Services.

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