StockNews.com Lowers Kornit Digital (NASDAQ:KRNT) to Sell

StockNews.com cut shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a report released on Wednesday morning.

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

Kornit Digital Trading Down 5.0 %

Shares of Kornit Digital stock opened at $14.71 on Wednesday. The company’s 50-day moving average price is $14.97 and its two-hundred day moving average price is $16.22. Kornit Digital has a 52 week low of $13.29 and a 52 week high of $29.90. The stock has a market cap of $699.46 million, a PE ratio of -12.06 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) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. The business had revenue of $43.78 million during the quarter, compared to the consensus estimate of $45.85 million. On average, equities analysts predict that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC raised its holdings in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after buying an additional 1,027 shares during the period. nVerses Capital LLC acquired a new stake in Kornit Digital during the 2nd quarter worth about $40,000. Signaturefd LLC raised its holdings in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after buying an additional 779 shares during the period. Tower Research Capital LLC TRC raised its holdings in Kornit Digital by 402.3% during 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. Finally, Privium Fund Management B.V. acquired a new stake in Kornit Digital during the 2nd quarter worth about $159,000. 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.