Short Interest in Karat Packaging Inc. (NASDAQ:KRT) Expands By 24.5%

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

Karat Packaging Stock Performance

KRT stock traded up $0.47 during trading on Tuesday, reaching $25.48. 73,194 shares of the company’s stock were exchanged, compared to its average volume of 65,019. Karat Packaging has a 1-year low of $20.61 and a 1-year high of $33.89. The firm has a market cap of $512.15 million, a PE ratio of 16.99, a P/E/G ratio of 1.45 and a beta of 1.09. The company’s fifty day moving average price is $23.40 and its 200-day moving average price is $24.25. The company has a quick ratio of 1.09, a current ratio of 2.14 and a debt-to-equity ratio of 0.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in shares of Karat Packaging by 1.9% during the second quarter. Lazard Asset Management LLC now owns 40,390 shares of the company’s stock valued at $1,137,000 after acquiring an additional 770 shares during the period. First Trust Advisors LP boosted its stake in Karat Packaging by 3.9% during the 2nd quarter. First Trust Advisors LP now owns 22,061 shares of the company’s stock valued at $621,000 after purchasing an additional 830 shares in the last quarter. CWM LLC increased its position in shares of Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after purchasing an additional 1,010 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Karat Packaging in the 3rd quarter worth $27,000. Finally, State of Tennessee Department of Treasury raised its stake in shares of Karat Packaging by 6.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 18,041 shares of the company’s stock worth $508,000 after buying an additional 1,138 shares in the last quarter. 25.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KRT shares. Bank of America cut shares of Karat Packaging from a “buy” rating to an “underperform” rating and cut their price target for the company from $27.00 to $22.00 in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Karat Packaging in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Karat Packaging from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research upgraded Karat Packaging from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Karat Packaging has a consensus rating of “Reduce” and an average price target 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.