Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Down 26.4% in February

Kornit Digital Ltd. (NASDAQ:KRNT) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 715,400 shares, a decrease of 26.4% from the February 13th total of 971,900 shares. Based on an average daily trading volume, of 281,300 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Kornit Digital

Several hedge funds have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN boosted its position in shares of Kornit Digital by 2.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock valued at $54,611,000 after acquiring an additional 53,257 shares during the period. Riverbridge Partners LLC lifted its position in Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after purchasing an additional 335,713 shares during the period. Stephens Investment Management Group LLC lifted its position in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after purchasing an additional 57,068 shares during the period. Loomis Sayles & Co. L P lifted its position in Kornit Digital by 259.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after purchasing an additional 893,463 shares during the period. Finally, Hood River Capital Management LLC lifted its position in Kornit Digital by 47.2% in the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock worth $34,036,000 after purchasing an additional 352,648 shares during the period. 92.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley upped their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Needham & Company LLC upped their price objective 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kornit Digital has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Stock Down 4.4 %

KRNT stock traded down $0.99 during midday trading on Monday, hitting $21.68. 224,484 shares of the company traded hands, compared to its average volume of 301,970. Kornit Digital has a twelve month low of $13.59 and a twelve month high of $34.29. The business has a 50 day simple moving average of $27.27 and a 200-day simple moving average of $27.19. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -61.94 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share 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%. Equities research analysts forecast 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.