Karat Packaging Inc. (NASDAQ:KRT) shares were down 2.7% during trading on Wednesday . The stock traded as low as $18.92 and last traded at $18.92. Approximately 13,234 shares traded hands during trading, an increase of 22% from the average daily volume of 10,842 shares. The stock had previously closed at $19.45.
Separately, Zacks Investment Research raised shares of Karat Packaging from a “sell” rating to a “hold” rating in a report on Tuesday, November 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Karat Packaging currently has an average rating of “Buy” and an average target price of $24.71.
The business’s fifty day moving average price is $20.67 and its 200 day moving average price is $21.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.25 and a current ratio of 3.10.
In other Karat Packaging news, VP Marvin Cheng sold 1,234 shares of Karat Packaging stock in a transaction on Friday, December 10th. The shares were sold at an average price of $21.50, for a total value of $26,531.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,379 shares of company stock valued at $94,201 in the last three months.
A number of institutional investors and hedge funds have recently bought and sold shares of KRT. Bank of America Corp DE bought a new stake in shares of Karat Packaging during the second quarter worth about $49,000. Deutsche Bank AG bought a new stake in shares of Karat Packaging during the second quarter worth about $55,000. Pinz Capital Management LP bought a new stake in shares of Karat Packaging during the second quarter worth about $84,000. New York State Common Retirement Fund bought a new stake in shares of Karat Packaging during the second quarter worth about $100,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Karat Packaging during the second quarter worth about $121,000. 20.02% of the stock is owned by hedge funds and other institutional investors.
About Karat Packaging (NASDAQ:KRT)
Karat Packaging Inc manufactures and distributes single-use disposable products in plastic, paper, biopolymer-based and other compostable forms primarily used in restaurants and foodservice areas. It offers food and take-out containers, bags, tableware, cups, lids, cutlery, and straws under the Karat and Karat Earth names.
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