NEW YORK (TheStreet) -- Shares of Capital Product Partners were falling 6.3% to $9.31 on heavy trading volume Thursday after the shipping company announced the pricing of a 12.8 million common unit public offering. Capital Product Partners priced the 12.8 million common units in its public offering at $9.53 a common unit. The underwriters of the offering have a 30-day option to by up to 1.92 million addition common units at the same price. The company said it plans to use the public offering to repay quarterly amortization installments scheduled for 2016 and the first quarter of 2017 under its 2007, 2008, and 2011 credit facilities. Capital Product Partners will also use the proceeds for general partnership purposes. About 1.8 million shares of Capital Product Partners were traded by 9:55 a.m. Thursday, well above the company's average trading volume of about 437,000 shares a day. TheStreet Ratings team rates CAPITAL PRODUCT PARTNERS LP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate CAPITAL PRODUCT PARTNERS LP (CPLP) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself." Highlights from the analysis by TheStreet Ratings Team goes as follows: The revenue growth came in higher than the industry average of 19.6%. Since the same quarter one year prior, revenues slightly increased by 5.7%. Growth in the company's revenue appears to have helped boost the earnings per share. The debt-to-equity ratio is somewhat low, currently at 0.66, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with this, the company maintains a quick ratio of 3.66, which clearly demonstrates the ability to cover short-term cash needs. The gross profit margin for CAPITAL PRODUCT PARTNERS LP is rather high; currently it is at 67.08%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 27.52% significantly outperformed against the industry average. Net operating cash flow has slightly increased to $31.76 million or 1.25% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -12.11%. The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 599.3% when compared to the same quarter one year prior, rising from $1.96 million to $13.69 million. You can view the full analysis from the report here: CPLP Ratings Report Must Read: Warren Buffett's Top 25 Stocks for 2015
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