Karat Packaging Inc. (NASDAQ:KRT) Short Interest Update

Karat Packaging Inc. (NASDAQ:KRT) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 272,592 shares, a growth of 24.5% from the December 31st total of 218,977 shares. Based on an average daily trading volume, of 83,419 shares, the short-interest ratio is presently 3.3 days. Approximately 4.0% of the shares of the stock are sold short. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 83,419 shares, the short-interest ratio is presently 3.3 days.

Karat Packaging Trading Up 1.9%

KRT stock traded up $0.47 during midday trading on Tuesday, hitting $25.48. The stock had a trading volume of 73,194 shares, compared to its average volume of 65,019. The company’s 50-day moving average price is $23.40 and its 200 day moving average price is $24.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.14 and a quick ratio of 1.09. The firm has a market cap of $512.15 million, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.09. Karat Packaging has a 12-month low of $20.61 and a 12-month high of $33.89.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $124.52 million for the quarter, compared to analyst estimates of $124.09 million. Karat Packaging had a return on equity of 18.98% and a net margin of 6.67%. On average, equities research analysts predict that Karat Packaging will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karat Packaging

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in shares of Karat Packaging in the 3rd quarter valued at $27,000. CWM LLC boosted its position in Karat Packaging by 378.4% during the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after purchasing an additional 1,298 shares during the period. Quarry LP purchased a new stake in shares of Karat Packaging in the third quarter worth about $70,000. Jane Street Group LLC purchased a new position in Karat Packaging in the 1st quarter worth approximately $219,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Karat Packaging in the third quarter valued at $227,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

Analyst Upgrades and Downgrades

KRT has been the subject of a number of research reports. Wall Street Zen cut shares of Karat Packaging from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America cut shares of Karat Packaging from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $27.00 to $22.00 in a research note on Monday, November 17th. Zacks Research raised Karat Packaging from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $26.50.

Karat Packaging Company Profile

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.