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

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 917,400 shares, a growth of 20.9% from the March 15th total of 758,900 shares. Based on an average daily trading volume, of 309,900 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC dropped their target price on shares of Kornit Digital from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 393 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Kornit Digital by 654.5% in the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the period. Deutsche Bank AG increased its stake in Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 1,143 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Kornit Digital in the fourth quarter valued at $159,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT traded up $0.41 during mid-day trading on Tuesday, reaching $17.82. The company’s stock had a trading volume of 18,107 shares, compared to its average volume of 293,547. The stock has a 50-day moving average of $21.35 and a two-hundred day moving average of $26.49. The stock has a market capitalization of $847.38 million, a P/E ratio of -50.99 and a beta of 2.08. Kornit Digital has a 1-year low of $13.59 and a 1-year high of $34.29.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. Analysts predict that Kornit Digital will post -0.2 EPS for the current fiscal 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.