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

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 971,900 shares, a decrease of 14.0% from the January 31st total of 1,130,000 shares. Based on an average trading volume of 271,700 shares, the short-interest ratio is presently 3.6 days.

Kornit Digital Price Performance

NASDAQ:KRNT traded down $0.71 during trading hours on Friday, hitting $21.14. The company’s stock had a trading volume of 166,095 shares, compared to its average volume of 303,640. The company has a market capitalization of $1.01 billion, a P/E ratio of -60.34 and a beta of 2.02. The stock has a fifty day simple moving average of $28.43 and a 200-day simple moving average of $27.02. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.29.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Kornit Digital will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRNT. Craig Hallum raised their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. 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 report on Wednesday, February 12th. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley raised 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Trading of Kornit Digital

A number of hedge funds have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Kornit Digital by 2.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after purchasing an additional 53,257 shares during the period. Riverbridge Partners LLC increased its stake in shares of Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after buying an additional 335,713 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Kornit Digital by 4.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after acquiring an additional 57,068 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Kornit Digital by 259.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after acquiring an additional 893,463 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in Kornit Digital by 47.2% in the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after acquiring an additional 352,648 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

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.