StockNews.com Upgrades Kornit Digital (NASDAQ:KRNT) to “Hold”

Kornit Digital (NASDAQ:KRNT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Kornit Digital Price Performance

Shares of Kornit Digital stock opened at $15.88 on Friday. The company has a 50-day moving average of $17.32 and a 200 day moving average of $17.29. The firm has a market cap of $758.11 million, a price-to-earnings ratio of -12.03 and a beta of 1.89. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $31.94.

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

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $220,000 after purchasing an additional 742 shares in the last quarter. Legacy Advisors LLC increased its stake in Kornit Digital by 5.3% during the 3rd quarter. Legacy Advisors LLC now owns 23,380 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 1,178 shares in the last quarter. Leisure Capital Management increased its stake in Kornit Digital by 2.9% during the 3rd quarter. Leisure Capital Management now owns 45,611 shares of the industrial products company’s stock valued at $863,000 after purchasing an additional 1,294 shares in the last quarter. Moody National Bank Trust Division increased its stake in Kornit Digital by 3.5% during the 4th quarter. Moody National Bank Trust Division now owns 39,819 shares of the industrial products company’s stock valued at $763,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC increased its stake in Kornit Digital by 1.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after purchasing an additional 1,550 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Company Profile

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.