Kornit Digital Ltd. (NASDAQ:KRNT – Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 874,700 shares, a growth of 9.5% from the September 15th total of 799,000 shares. Based on an average daily trading volume, of 352,400 shares, the days-to-cover ratio is presently 2.5 days.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Barclays raised their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Kornit Digital in a report on Thursday, September 12th. Finally, Craig Hallum lifted their price target on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.50.
Institutional Inflows and Outflows
Kornit Digital Stock Up 2.2 %
Kornit Digital stock opened at $24.54 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -20.11 and a beta of 1.92. The firm has a 50 day moving average price of $21.50 and a 200-day moving average price of $17.51. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $26.64.
Kornit Digital (NASDAQ:KRNT – Get Free Report) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $50.24 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. Equities analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal year.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.
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