Kornit Digital (NASDAQ:KRNT) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research note published on Sunday morning.

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT opened at $16.67 on Friday. The firm has a market cap of $795.83 million, a price-to-earnings ratio of -12.63 and a beta of 1.88. The firm has a fifty day moving average price of $16.94 and a 200 day moving average price of $17.33. Kornit Digital has a fifty-two week low of $13.29 and a fifty-two week high of $31.94.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) 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 business had revenue of $56.59 million during the quarter, compared to the consensus estimate of $57.35 million. As a group, research analysts predict that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Trading of Kornit Digital

Large investors have recently added to or reduced their stakes in the company. Inflection Point Investments LLP bought a new stake in Kornit Digital in the fourth quarter worth $17,014,000. William Blair Investment Management LLC raised its position in shares of Kornit Digital by 971.9% during the 3rd quarter. William Blair Investment Management LLC now owns 876,238 shares of the industrial products company’s stock valued at $16,570,000 after buying an additional 794,492 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Kornit Digital by 103.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after acquiring an additional 485,000 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Kornit Digital in the third quarter worth about $9,035,000. Finally, Yelin Lapidot Holdings Management Ltd. bought a new stake in Kornit Digital during the third quarter worth approximately $7,443,000. Institutional investors own 92.76% of the company’s stock.

About Kornit Digital

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.