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

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 1,040,000 shares, a decrease of 29.3% from the November 15th total of 1,470,000 shares. Based on an average daily volume of 395,200 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KRNT. Barclays upped their price objective on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Kornit Digital Trading Down 1.2 %

Shares of NASDAQ KRNT traded down $0.40 during trading hours on Friday, reaching $32.10. The stock had a trading volume of 272,549 shares, compared to its average volume of 362,503. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -36.48 and a beta of 2.01. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $33.31. The firm has a 50-day moving average of $28.24 and a 200-day moving average of $21.38.

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

Institutional Trading of Kornit Digital

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