Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Up 9.4% in May

Kornit Digital Ltd. (NASDAQ:KRNT) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 818,400 shares, a growth of 9.4% from the May 15th total of 748,300 shares. Based on an average daily trading volume, of 328,800 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of Kornit Digital in a report on Thursday, May 9th. StockNews.com cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

Kornit Digital Trading Down 1.2 %

Shares of KRNT stock opened at $14.96 on Tuesday. The stock has a 50-day moving average price of $15.34 and a 200 day moving average price of $16.96. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $31.94.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $43.78 million during the quarter, compared to analyst estimates of $45.85 million. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. Equities analysts forecast that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently modified their holdings of KRNT. Headlands Technologies LLC increased its stake in shares of Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 1,027 shares during the last quarter. Tower Research Capital LLC TRC increased 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 worth $111,000 after purchasing an additional 4,642 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Kornit Digital during the 4th quarter worth approximately $140,000. Van ECK Associates Corp increased its stake in Kornit Digital by 6.8% during the 3rd quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 742 shares in the last quarter. Finally, Trust Point Inc. bought a new stake in Kornit Digital during the 4th quarter worth approximately $271,000. 92.76% of the stock is owned by institutional investors.

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.