Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Down 14.0% in February

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a large 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 daily volume of 271,700 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KRNT. Morgan Stanley boosted their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Craig Hallum raised their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Trading Down 3.2 %

NASDAQ:KRNT traded down $0.71 during trading hours on Friday, hitting $21.14. 166,095 shares of the company traded hands, compared to its average volume of 303,640. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.29. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -60.34 and a beta of 2.02. The firm has a 50-day moving average of $28.43 and a 200 day moving average of $27.02.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data 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 net margin of 8.24% and a negative return on equity of 1.51%. Equities research analysts predict that Kornit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in Kornit Digital in the third quarter worth $934,000. Privium Fund Management B.V. lifted its position in shares of Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 950 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in Kornit Digital in the third quarter valued at approximately $2,523,000. Telemark Asset Management LLC bought a new stake in shares of Kornit Digital during the 3rd quarter worth approximately $1,033,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at approximately $8,887,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.