Short Interest in Kornit Digital Ltd. (NASDAQ:KRNT) Declines By 14.0%

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 971,900 shares, a drop 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 currently 3.6 days.

Analyst Ratings Changes

Several research analysts have weighed in on KRNT shares. Needham & Company LLC increased their price target on shares of 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 upgraded shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kornit Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN increased its holdings in Kornit Digital by 2.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company's stock valued at $54,611,000 after acquiring an additional 53,257 shares during the last quarter. Riverbridge Partners LLC increased its holdings in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock valued at $59,643,000 after acquiring an additional 335,713 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company's stock valued at $41,545,000 after acquiring an additional 57,068 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock valued at $38,300,000 after acquiring an additional 893,463 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in shares of Kornit Digital by 47.2% in the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock worth $34,036,000 after buying an additional 352,648 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

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Kornit Digital Price Performance

Shares of KRNT stock traded down $0.36 on Friday, hitting $21.48. 401,795 shares of the stock traded hands, compared to its average volume of 303,987. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -61.37 and a beta of 2.02. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.29. The firm has a 50 day simple moving average of $28.23 and a two-hundred day simple moving average of $27.03.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (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%. Sell-side analysts forecast that Kornit Digital will post -0.2 EPS for the current 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.