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

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

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

Kornit Digital Trading Up 3.2 %

NASDAQ KRNT traded up $0.48 during trading hours on Thursday, reaching $15.25. The company had a trading volume of 186,938 shares, compared to its average volume of 390,447. The stock has a 50-day moving average of $14.93 and a 200 day moving average of $16.48. Kornit Digital has a 1-year low of $13.29 and a 1-year high of $31.94. The stock has a market capitalization of $728.04 million, a P/E ratio of -12.50 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The business had revenue of $43.78 million for the quarter, compared to analyst estimates of $45.85 million. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. As a group, sell-side analysts predict that Kornit Digital will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of KRNT. Headlands Technologies LLC lifted its holdings in Kornit Digital by 97.9% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 1,027 shares during the period. Tower Research Capital LLC TRC grew 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 valued at $111,000 after buying an additional 4,642 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Kornit Digital in the 4th quarter valued at about $140,000. Van ECK Associates Corp lifted its stake in shares of Kornit Digital by 12.4% in the 4th quarter. Van ECK Associates Corp now owns 13,099 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in shares of Kornit Digital in the 4th quarter valued at about $271,000. 92.76% of the stock is currently owned by hedge funds and other 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.