Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Update

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 715,400 shares, a decline of 26.4% from the February 13th total of 971,900 shares. Based on an average daily trading volume, of 281,300 shares, the short-interest ratio is presently 2.5 days. Currently, 1.5% of the shares of the company are sold short.

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Fifth Third Bancorp boosted its position in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 393 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Kornit Digital by 7.4% in the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 572 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Kornit Digital by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 625 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Kornit Digital by 8.5% in the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after buying an additional 874 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after buying an additional 988 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley lifted their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC upped their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Stock Performance

Shares of KRNT stock traded down $0.22 during trading hours on Tuesday, reaching $21.46. The company had a trading volume of 140,046 shares, compared to its average volume of 301,325. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -61.31 and a beta of 2.12. The stock has a fifty day moving average of $27.08 and a 200-day moving average of $27.21.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, analysts forecast that Kornit Digital will post -0.2 EPS for the current 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.