Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Down 26.4% in February

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 715,400 shares, a decrease of 26.4% from the February 13th total of 971,900 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 281,300 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

KRNT has been the topic of several recent research reports. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley boosted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC boosted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital Trading Up 4.1 %

Kornit Digital stock traded up $0.90 during midday trading on Friday, reaching $22.67. 400,644 shares of the stock traded hands, compared to its average volume of 302,281. The firm has a market cap of $1.08 billion, a PE ratio of -64.77 and a beta of 2.12. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.29. The company has a 50-day simple moving average of $27.27 and a two-hundred day simple moving average of $27.13.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. Equities research analysts anticipate that Kornit Digital will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after buying an additional 393 shares during the period. Russell Investments Group Ltd. raised its holdings in Kornit Digital by 654.5% in the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,800 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares during the last quarter. Deutsche Bank AG lifted its stake in Kornit Digital by 31.5% in the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 1,143 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Kornit Digital during the 4th quarter worth approximately $159,000. 92.76% of the stock is owned by institutional investors and hedge funds.

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.