Short Interest in Kornit Digital Ltd. (NASDAQ:KRNT) Declines By 14.2%

Kornit Digital Ltd. (NASDAQ:KRNT) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 892,000 shares, a decrease of 14.2% from the November 30th total of 1,040,000 shares. Based on an average trading volume of 364,400 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on KRNT. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum boosted their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Barclays upped their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Finally, Cantor Fitzgerald started coverage on Kornit Digital in a research note on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.40.

Kornit Digital Stock Down 1.1 %

Shares of NASDAQ KRNT opened at $31.73 on Monday. The business’s 50 day moving average price is $29.77 and its two-hundred day moving average price is $22.70. The company has a market cap of $1.51 billion, a PE ratio of -36.06 and a beta of 2.01. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The business had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. As a group, research analysts anticipate that Kornit Digital will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KRNT. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after acquiring an additional 625 shares during the period. Signaturefd LLC boosted its stake in Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 779 shares during the period. Trust Point Inc. grew its holdings in Kornit Digital by 4.6% in the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock valued at $462,000 after buying an additional 785 shares in the last quarter. Privium Fund Management B.V. grew its holdings in Kornit Digital by 8.8% in the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after buying an additional 950 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after buying an additional 1,184 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.