Karat Packaging (NASDAQ:KRT) Upgraded at Wall Street Zen

Karat Packaging (NASDAQ:KRT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

Separately, Truist Financial raised their price objective on Karat Packaging from $28.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, May 12th.

Karat Packaging Stock Performance

KRT stock traded down $0.27 during trading hours on Friday, hitting $27.98. 49,531 shares of the stock were exchanged, compared to its average volume of 49,691. The company has a current ratio of 2.86, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $561.75 million, a P/E ratio of 18.65 and a beta of 1.12. The company has a 50-day simple moving average of $29.35 and a two-hundred day simple moving average of $28.75. Karat Packaging has a 12 month low of $23.00 and a 12 month high of $33.89.

Insider Transactions at Karat Packaging

In other Karat Packaging news, CEO Alan Yu sold 112,500 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $27.00, for a total value of $3,037,500.00. Following the transaction, the chief executive officer owned 6,091,305 shares of the company's stock, valued at approximately $164,465,235. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 66.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KRT. GAMMA Investing LLC increased its position in shares of Karat Packaging by 4,151.4% during the 1st quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock valued at $40,000 after purchasing an additional 1,453 shares during the last quarter. Deutsche Bank AG grew its position in 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 acquiring an additional 1,408 shares during the last quarter. Comerica Bank grew its position in 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 acquiring an additional 2,730 shares during the last quarter. Wells Fargo & Company MN grew its position in Karat Packaging by 20.8% during the 4th quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock worth $168,000 after acquiring an additional 955 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Karat Packaging during the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 25.20% of the company's stock.

About Karat Packaging

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.