Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Up 80.5% in December

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,610,000 shares, an increase of 80.5% from the December 15th total of 892,000 shares. Based on an average daily volume of 279,900 shares, the short-interest ratio is currently 5.8 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on KRNT. Needham & Company LLC raised 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. Cantor Fitzgerald started coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an "overweight" rating and a $39.00 price target for the company. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays lifted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a report on Tuesday, October 1st. Finally, Morgan Stanley upped their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.40.

Institutional Investors Weigh In On Kornit Digital

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock worth $235,000 after buying an additional 1,184 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Kornit Digital by 6.0% in the second quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company's stock worth $14,462,000 after acquiring an additional 56,157 shares during the last quarter. XTX Topco Ltd grew its holdings in Kornit Digital by 22.7% during the 2nd quarter. XTX Topco Ltd now owns 20,953 shares of the industrial products company's stock worth $307,000 after acquiring an additional 3,881 shares in the last quarter. LHM Inc. purchased a new stake in shares of Kornit Digital in the 2nd quarter valued at approximately $12,042,000. Finally, Sei Investments Co. raised its holdings in shares of Kornit Digital by 0.6% in the 2nd quarter. Sei Investments Co. now owns 206,464 shares of the industrial products company's stock valued at $3,023,000 after purchasing an additional 1,214 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $29.48 on Wednesday. The stock has a market capitalization of $1.40 billion, a P/E ratio of -33.50 and a beta of 2.01. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $34.28. The company has a 50 day moving average price of $31.35 and a 200 day moving average price of $24.04.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, research analysts forecast that Kornit Digital will post -0.22 EPS for the current fiscal 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.