Short Interest in Kornit Digital Ltd. (NASDAQ:KRNT) Drops By 19.9%

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 780,500 shares, a drop of 19.9% from the March 31st total of 974,800 shares. Based on an average trading volume of 483,200 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a research report on Saturday.

Kornit Digital Stock Up 4.4 %

Shares of NASDAQ KRNT traded up $0.67 during trading on Friday, hitting $15.88. 122,361 shares of the company traded hands, compared to its average volume of 277,837. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $31.94. The company has a 50-day moving average price of $17.32 and a 200-day moving average price of $17.29. The firm has a market capitalization of $758.11 million, a P/E ratio of -12.03 and a beta of 1.89.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. The company had revenue of $56.59 million during the quarter, compared to analysts' expectations of $57.35 million. Research analysts predict that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

A number of institutional investors have recently added to or reduced their stakes in KRNT. SG Americas Securities LLC boosted its position in Kornit Digital by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 41,194 shares of the industrial products company's stock worth $779,000 after purchasing an additional 6,728 shares during the period. Handelsbanken Fonder AB lifted its holdings in Kornit Digital by 40.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,957 shares of the industrial products company's stock worth $207,000 after buying an additional 3,157 shares in the last quarter. Raymond James & Associates lifted its holdings in Kornit Digital by 16.0% in the 3rd quarter. Raymond James & Associates now owns 18,411 shares of the industrial products company's stock worth $348,000 after buying an additional 2,538 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Kornit Digital by 44.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,469 shares of the industrial products company's stock worth $501,000 after buying an additional 8,122 shares in the last quarter. Finally, Chicago Capital LLC lifted its holdings in Kornit Digital by 14.6% in the 3rd quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company's stock worth $31,392,000 after buying an additional 212,102 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

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.