Kornit Digital Ltd. (NASDAQ:KRNT) Sees Large Increase in Short Interest

Kornit Digital Ltd. (NASDAQ:KRNT) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 847,400 shares, an increase of 8.6% from the April 15th total of 780,500 shares. Based on an average daily trading volume, of 432,700 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC increased its stake in shares of Kornit Digital by 0.6% in the fourth quarter. Senvest Management LLC now owns 4,396,160 shares of the industrial products company’s stock worth $84,230,000 after acquiring an additional 25,000 shares during the last quarter. Wasatch Advisors LP grew its stake in Kornit Digital by 6.7% in the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after purchasing an additional 114,372 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Kornit Digital by 23.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock worth $28,092,000 after purchasing an additional 282,241 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Kornit Digital by 103.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock worth $18,273,000 after purchasing an additional 485,000 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Kornit Digital by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 931,706 shares of the industrial products company’s stock valued at $16,883,000 after buying an additional 35,930 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Trading Up 0.9 %

Shares of NASDAQ KRNT opened at $15.70 on Thursday. Kornit Digital has a one year low of $13.29 and a one year high of $31.94. The business has a 50-day moving average price of $16.67 and a two-hundred day moving average price of $17.36. The firm has a market capitalization of $749.52 million, a PE ratio of -12.87 and a beta of 1.88.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative net margin of 27.17% and a negative return on equity of 4.31%. The business had revenue of $56.59 million during the quarter, compared to analysts’ expectations of $57.35 million. Research analysts anticipate that Kornit Digital will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of Kornit Digital in a report on Thursday, May 9th. StockNews.com downgraded shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Sunday, May 5th.

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.