Kornit Digital Ltd. (NASDAQ:KRNT) Short Interest Down 19.9% in April

Kornit Digital Ltd. (NASDAQ:KRNT) 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.

Kornit Digital Stock Performance

Shares of Kornit Digital stock traded down $0.08 on Monday, hitting $15.80. The stock had a trading volume of 153,111 shares, compared to its average volume of 484,537. The stock has a 50 day moving average of $17.25 and a 200 day moving average of $17.29. The firm has a market capitalization of $754.29 million, a P/E ratio of -11.97 and a beta of 1.89. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in Kornit Digital by 103.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after acquiring an additional 485,000 shares during the period. Phoenix Holdings Ltd. lifted its holdings in shares of Kornit Digital by 233.4% in the 3rd quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock worth $3,381,000 after purchasing an additional 125,196 shares in the last quarter. Schroder Investment Management Group grew its position in Kornit Digital by 106.3% in the 3rd quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock valued at $13,912,000 after purchasing an additional 379,140 shares during the period. Chicago Capital LLC increased its stake in Kornit Digital by 14.6% during the 3rd quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock valued at $31,392,000 after purchasing an additional 212,102 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in Kornit Digital during the third quarter worth $2,816,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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.