Kornit Digital (NASDAQ:KRNT) Rating Increased to Hold at StockNews.com

Kornit Digital (NASDAQ:KRNTGet Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a research note on Thursday, May 9th.

Get Our Latest Stock Analysis on Kornit Digital

Kornit Digital Stock Performance

Shares of Kornit Digital stock opened at $15.53 on Wednesday. The company has a market capitalization of $741.32 million, a PE ratio of -12.73 and a beta of 1.90. The company has a 50-day simple moving average of $15.65 and a two-hundred day simple moving average of $17.15. Kornit Digital has a one year low of $13.29 and a one year high of $31.94.

Kornit Digital (NASDAQ:KRNTGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $43.78 million for the quarter, compared to analysts’ expectations of $45.85 million. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. On average, equities analysts predict that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KRNT. Headlands Technologies LLC raised its stake in Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 1,027 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 4,642 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Kornit Digital in the 4th quarter worth $140,000. Van ECK Associates Corp increased its stake in shares of 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 acquiring an additional 742 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Kornit Digital by 43.5% in the 3rd quarter. Quantbot Technologies LP now owns 11,887 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 3,606 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

About Kornit Digital

(Get Free Report)

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.

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