Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Up 20.9% in March

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 917,400 shares, an increase of 20.9% from the March 15th total of 758,900 shares. Based on an average trading volume of 309,900 shares, the short-interest ratio is currently 3.0 days. Currently, 2.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Kornit Digital

A number of institutional investors have recently modified their holdings of KRNT. Barclays PLC boosted its stake in shares of Kornit Digital by 130.1% in the 3rd quarter. Barclays PLC now owns 20,420 shares of the industrial products company's stock valued at $527,000 after purchasing an additional 11,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Kornit Digital by 15.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,229 shares of the industrial products company's stock valued at $2,150,000 after purchasing an additional 11,049 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Kornit Digital by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 37,365 shares of the industrial products company's stock valued at $965,000 after purchasing an additional 1,651 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Kornit Digital by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock valued at $468,000 after purchasing an additional 625 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Kornit Digital during the third quarter worth $934,000. 92.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Kornit Digital Stock Up 6.2 %

NASDAQ KRNT traded up $1.10 on Wednesday, hitting $18.89. The company's stock had a trading volume of 6,721 shares, compared to its average volume of 292,668. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $34.29. The company's 50-day moving average is $21.13 and its 200 day moving average is $26.42. The firm has a market cap of $898.26 million, a PE ratio of -53.97 and a beta of 2.08.

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 the consensus estimate 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 expect that Kornit Digital will post -0.2 EPS for the current year.

About Kornit Digital

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.