Kornit Digital Ltd. (NASDAQ:KRNT) Sees Significant Decline in Short Interest

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 780,500 shares, a decline of 19.9% from the March 31st total of 974,800 shares. Based on an average trading volume of 483,200 shares, the days-to-cover ratio is presently 1.6 days.

Kornit Digital Price Performance

NASDAQ KRNT traded down $0.08 during mid-day trading on Monday, reaching $15.80. The stock had a trading volume of 153,111 shares, compared to its average volume of 484,537. The stock has a market cap of $754.29 million, a PE ratio of -11.97 and a beta of 1.89. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $31.94. The company has a fifty day moving average price of $17.25 and a 200 day moving average price of $17.29.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. The firm had revenue of $56.59 million during the quarter, compared to analysts’ expectations of $57.35 million. As a group, equities research analysts expect that Kornit Digital will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Kornit Digital

Several hedge funds and other institutional investors have recently bought and sold shares of KRNT. Allworth Financial LP raised its holdings in shares of Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,573 shares during the last quarter. Headlands Technologies LLC bought a new stake in Kornit Digital in the 3rd quarter worth approximately $58,000. Tower Research Capital LLC TRC raised its stake in Kornit Digital by 402.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after buying an additional 4,642 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Kornit Digital during the 4th quarter valued at $140,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Kornit Digital by 40.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,957 shares of the industrial products company’s stock valued at $207,000 after buying an additional 3,157 shares during the period. Institutional investors own 92.76% of the company’s stock.

About Kornit Digital

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.