Karat Packaging Inc. (NASDAQ:KRT) Short Interest Update

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) saw a significant increase in short interest in 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 volume of 46,100 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.2% of the company's shares are short sold.

Analyst Upgrades and Downgrades

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

Karat Packaging Stock Up 0.2%

Shares of KRT stock traded up $0.07 on Monday, hitting $31.53. 21,745 shares of the stock were exchanged, compared to its average volume of 41,102. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $632.49 million, a P/E ratio of 22.52 and a beta of 1.12. Karat Packaging has a fifty-two week low of $23.00 and a fifty-two week high of $33.89. The business has a 50-day moving average of $27.40 and a 200 day moving average of $29.24.

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

Karat Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were paid a $0.45 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.80 annualized dividend and a yield of 5.71%. Karat Packaging's payout ratio is currently 120.00%.

Hedge Funds Weigh In On Karat Packaging

A number of large investors have recently modified their holdings of KRT. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 1,453 shares in the last quarter. Deutsche Bank AG increased its position in shares of Karat Packaging by 773.6% during the 4th quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock worth $48,000 after purchasing an additional 1,408 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of 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 purchasing an additional 722 shares in the last quarter. Comerica Bank raised its stake in shares of Karat Packaging by 107.8% during the 4th quarter. Comerica Bank now owns 5,262 shares of the company's stock worth $159,000 after purchasing an additional 2,730 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Karat Packaging by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock valued at $168,000 after buying an additional 955 shares during the last quarter. 25.20% of the stock is currently owned by institutional investors and hedge funds.

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.