Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Update

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 917,400 shares, a growth of 20.9% from the March 15th total of 758,900 shares. Currently, 2.0% of the company's stock are sold short. Based on an average daily trading volume, of 309,900 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KRNT. Needham & Company LLC lowered their target price on Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.80.

Hedge Funds Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP increased its holdings in shares of Kornit Digital by 5.0% in the 1st quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company's stock worth $12,857,000 after acquiring an additional 31,924 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Kornit Digital by 3.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 52,953 shares of the industrial products company's stock valued at $1,010,000 after purchasing an additional 1,646 shares during the period. Chicago Capital LLC raised its holdings in shares of Kornit Digital by 0.3% during the first quarter. Chicago Capital LLC now owns 3,105,206 shares of the industrial products company's stock valued at $59,247,000 after buying an additional 10,656 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in shares of Kornit Digital by 15.5% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 170,120 shares of the industrial products company's stock worth $3,246,000 after buying an additional 22,864 shares during the period. Finally, Dudley & Shanley Inc. grew its holdings in Kornit Digital by 18.1% in the 1st quarter. Dudley & Shanley Inc. now owns 321,150 shares of the industrial products company's stock worth $6,128,000 after buying an additional 49,125 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Stock Down 0.1 %

KRNT stock traded down $0.02 during trading on Friday, hitting $18.49. 199,656 shares of the company's stock traded hands, compared to its average volume of 293,666. The stock has a fifty day moving average price of $20.61 and a two-hundred day moving average price of $26.28. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $34.29. The stock has a market capitalization of $879.24 million, a price-to-earnings ratio of -52.83 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS 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%. As a group, equities research analysts expect that Kornit Digital will post -0.2 EPS for the current fiscal year.

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.