Blueknight Energy Partners (NASDAQ:BKEP) Stock Passes Above 200-Day Moving Average of $1.18

Blueknight Energy Partners LP (NASDAQ:BKEP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.18 and traded as high as $1.14. Blueknight Energy Partners shares last traded at $1.13, with a volume of 56,972 shares traded.

Several equities research analysts have weighed in on BKEP shares. ValuEngine raised Blueknight Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Blueknight Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

The company has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.18. The stock has a market capitalization of $45.71 million, a price-to-earnings ratio of -3.97 and a beta of 1.82.

Blueknight Energy Partners (NASDAQ:BKEP) last issued its earnings results on Wednesday, August 7th. The pipeline company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Blueknight Energy Partners had a negative return on equity of 4.51% and a negative net margin of 9.26%. The firm had revenue of $94.08 million for the quarter.

In other Blueknight Energy Partners news, Director Robert Howard Lampton sold 150,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.21, for a total value of $181,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of BKEP. Zazove Associates LLC increased its holdings in shares of Blueknight Energy Partners by 13.6% during the second quarter. Zazove Associates LLC now owns 2,190,979 shares of the pipeline company’s stock valued at $2,542,000 after purchasing an additional 261,582 shares during the period. RBF Capital LLC acquired a new position in shares of Blueknight Energy Partners during the second quarter valued at $29,000. Finally, Invesco Ltd. acquired a new position in shares of Blueknight Energy Partners during the second quarter valued at $2,483,000. 15.15% of the stock is currently owned by institutional investors.

About Blueknight Energy Partners (NASDAQ:BKEP)

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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