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

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) saw a large growth in short interest during the month of 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 volume of 352,400 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KRNT shares. Barclays upped their target price on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Morgan Stanley boosted 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 set a $27.00 price target on shares of Kornit Digital in a research report on Thursday, September 12th. Finally, Craig Hallum boosted their price objective on Kornit Digital from $23.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT traded up $0.37 during midday trading on Wednesday, hitting $24.91. The company's stock had a trading volume of 208,580 shares, compared to its average volume of 378,626. Kornit Digital has a 1-year low of $13.29 and a 1-year high of $26.64. The firm's fifty day moving average price is $21.50 and its 200-day moving average price is $17.51. The firm has a market cap of $1.19 billion, a P/E ratio of -20.42 and a beta of 1.92.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $48.62 million during the quarter, compared to analyst estimates of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The business's revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) earnings per share. As a group, research analysts predict that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC raised its holdings 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 valued at $38,000 after buying an additional 1,027 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Kornit Digital during the 2nd quarter worth about $40,000. Signaturefd LLC lifted its stake in shares of 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 acquiring an additional 779 shares during the period. Privium Fund Management B.V. bought a new position in shares of Kornit Digital in the second quarter valued at approximately $159,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 in the last quarter. 92.76% of the stock is currently owned by institutional investors.

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.