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

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

Kornit Digital Trading Down 1.0 %

NASDAQ:KRNT traded down $0.22 during mid-day trading on Tuesday, reaching $21.46. The company’s stock had a trading volume of 140,046 shares, compared to its average volume of 301,325. The firm’s fifty day moving average price is $27.08 and its two-hundred day moving average price is $27.21. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The stock has a market cap of $1.02 billion, a P/E ratio of -61.31 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (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%. Analysts predict that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in shares of Kornit Digital in the 3rd quarter valued at about $934,000. Lisanti Capital Growth LLC lifted its stake in shares of Kornit Digital by 119.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock worth $6,618,000 after purchasing an additional 116,170 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Kornit Digital during the third quarter valued at about $8,887,000. Stephens Investment Management Group LLC grew its stake in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after purchasing an additional 57,068 shares during the last quarter. Finally, Dudley & Shanley Inc. lifted its holdings in shares of Kornit Digital by 25.3% during the 3rd quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company’s stock valued at $6,705,000 after purchasing an additional 52,425 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Analyst Ratings Changes

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

About Kornit Digital

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.