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

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 874,700 shares, a growth of 9.5% from the September 15th total of 799,000 shares. Based on an average daily trading volume, of 352,400 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Kornit Digital in a report on Thursday, September 12th. Finally, Craig Hallum lifted their price target on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KRNT. Headlands Technologies LLC lifted its position in shares of Kornit Digital by 97.9% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 1,027 shares in the last quarter. nVerses Capital LLC purchased a new stake in Kornit Digital during the 2nd quarter worth about $40,000. 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 worth $50,000 after purchasing an additional 779 shares during the period. Privium Fund Management B.V. purchased a new position in Kornit Digital during the 2nd quarter valued at about $159,000. Finally, Bank of New York Mellon Corp increased its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the period. 92.76% of the stock is owned by institutional investors.

Kornit Digital Stock Up 2.2 %

Kornit Digital stock opened at $24.54 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -20.11 and a beta of 1.92. The firm has a 50 day moving average price of $21.50 and a 200-day moving average price of $17.51. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $26.64.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $50.24 million. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. Equities analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal 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.