Short Interest in Karat Packaging Inc. (NASDAQ:KRT) Grows By 89.1%

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 153,200 shares, an increase of 89.1% from the April 30th total of 81,000 shares. Based on an average daily trading volume, of 46,100 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.2% of the company's stock are sold short.

Institutional Investors Weigh In On Karat Packaging

A number of institutional investors have recently made changes to their positions in KRT. GAMMA Investing LLC increased its stake in shares of Karat Packaging by 4,151.4% during the first quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock worth $40,000 after purchasing an additional 1,453 shares during the period. Deutsche Bank AG grew its holdings in Karat Packaging by 773.6% in the 4th quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock valued at $48,000 after buying an additional 1,408 shares in the last quarter. Copeland Capital Management LLC increased its position in Karat Packaging by 38.4% during the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock worth $79,000 after buying an additional 722 shares during the period. Comerica Bank lifted its holdings in shares of Karat Packaging by 107.8% during the fourth quarter. Comerica Bank now owns 5,262 shares of the company's stock worth $159,000 after buying an additional 2,730 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Karat Packaging by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock worth $168,000 after buying an additional 955 shares in the last quarter. Institutional investors own 25.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KRT shares. Truist Financial boosted their target price on shares of Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Karat Packaging from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

Karat Packaging Stock Performance

Shares of KRT stock traded down $0.77 during trading on Wednesday, reaching $30.78. 54,840 shares of the company's stock were exchanged, compared to its average volume of 40,669. Karat Packaging has a twelve month low of $23.00 and a twelve month high of $33.89. The firm's fifty day moving average price is $27.55 and its 200-day moving average price is $29.27. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $617.45 million, a PE ratio of 21.99 and a beta of 1.12.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $101.65 million during the quarter, compared to analyst estimates of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. As a group, sell-side analysts anticipate that Karat Packaging will post 1.66 EPS for the current year.

Karat Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.80 annualized dividend and a yield of 5.85%. Karat Packaging's dividend payout ratio (DPR) is presently 120.00%.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.