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

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 974,800 shares, a drop of 13.7% from the March 15th total of 1,130,000 shares. Based on an average trading volume of 536,100 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of Kornit Digital

Hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its position in shares of Kornit Digital by 357.9% in the first quarter. Quarry LP now owns 1,273 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 995 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in Kornit Digital during the first quarter valued at approximately $107,000. Tower Research Capital LLC TRC bought a new position in Kornit Digital during the third quarter valued at approximately $39,000. Allworth Financial LP raised its position in Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Kornit Digital during the third quarter valued at approximately $58,000. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Stock Up 0.5 %

Shares of KRNT opened at $15.98 on Tuesday. The firm has a 50-day moving average price of $17.78 and a 200 day moving average price of $17.43. The firm has a market capitalization of $762.89 million, a PE ratio of -12.11 and a beta of 1.89. Kornit Digital has a 52-week low of $13.29 and a 52-week high of $31.94.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $56.59 million during the quarter, compared to analyst estimates of $57.35 million. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. On average, equities analysts expect that Kornit Digital will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, April 11th.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.