Exchange Traded Concepts LLC Makes New $291,000 Investment in Karat Packaging Inc. (NASDAQ:KRT)

Exchange Traded Concepts LLC acquired a new position in Karat Packaging Inc. (NASDAQ:KRT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,625 shares of the company's stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KRT. US Bancorp DE bought a new stake in shares of Karat Packaging in the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC acquired a new position in shares of Karat Packaging in the third quarter valued at $49,000. Nisa Investment Advisors LLC increased its holdings in Karat Packaging by 497.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company's stock valued at $95,000 after buying an additional 3,061 shares during the period. Kings Path Partners LLC acquired a new position in shares of Karat Packaging in the 3rd quarter valued at $401,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Karat Packaging by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company's stock valued at $511,000 after buying an additional 1,053 shares in the last quarter. Institutional investors own 25.20% of the company's stock.

Karat Packaging Price Performance

Shares of KRT traded up $0.04 during trading hours on Tuesday, hitting $30.45. The stock had a trading volume of 10,780 shares, compared to its average volume of 33,972. The stock has a market capitalization of $609.73 million, a price-to-earnings ratio of 21.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. The company's fifty day moving average is $30.49 and its two-hundred day moving average is $28.20. Karat Packaging Inc. has a 52 week low of $23.10 and a 52 week high of $33.14.

Karat Packaging (NASDAQ:KRT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.04). Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. The firm had revenue of $112.77 million for the quarter, compared to analyst estimates of $113.58 million. During the same period in the previous year, the business posted $0.47 EPS. On average, analysts anticipate that Karat Packaging Inc. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

KRT has been the subject of several recent research reports. Stifel Nicolaus increased their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. William Blair downgraded Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.