Kornit Digital (NASDAQ:KRNT) Stock Rating Lowered by StockNews.com

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

Kornit Digital Stock Up 2.4 %

KRNT opened at $16.38 on Friday. Kornit Digital has a 52-week low of $13.29 and a 52-week high of $31.94. The company has a market cap of $781.98 million, a P/E ratio of -12.41 and a beta of 1.88. The firm’s 50-day moving average price is $16.97 and its 200-day moving average price is $17.32.

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

Hedge Funds Weigh In On Kornit Digital

Several hedge funds and other institutional investors have recently bought and sold shares of KRNT. Allworth Financial LP increased its holdings in Kornit Digital by 9,252.9% in the 3rd quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,573 shares during the period. Headlands Technologies LLC acquired a new position in Kornit Digital in the 3rd quarter worth approximately $58,000. Tower Research Capital LLC TRC increased its holdings in Kornit Digital by 402.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after buying an additional 4,642 shares during the period. Anchor Investment Management LLC acquired a new position in Kornit Digital in the 4th quarter worth approximately $140,000. Finally, Van ECK Associates Corp increased its holdings in Kornit Digital by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock worth $220,000 after buying an additional 742 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.