Moody National Bank Trust Division Boosts Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Moody National Bank Trust Division boosted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 19.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,386 shares of the industrial products company’s stock after purchasing an additional 8,405 shares during the quarter. Moody National Bank Trust Division owned approximately 0.11% of Kornit Digital worth $752,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Inflection Point Investments LLP purchased a new stake in shares of Kornit Digital in the fourth quarter valued at $17,014,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Kornit Digital by 103.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after purchasing an additional 485,000 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in Kornit Digital by 23.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after purchasing an additional 282,241 shares during the last quarter. Wasatch Advisors LP increased its stake in Kornit Digital by 6.7% in the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after purchasing an additional 114,372 shares during the last quarter. Finally, Roubaix Capital LLC increased its stake in Kornit Digital by 104.9% in the first quarter. Roubaix Capital LLC now owns 141,875 shares of the industrial products company’s stock valued at $2,571,000 after purchasing an additional 72,638 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on KRNT. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of Kornit Digital in a research note on Thursday, May 9th. StockNews.com downgraded Kornit Digital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st.

Kornit Digital Trading Down 4.6 %

KRNT traded down $0.67 during trading hours on Monday, hitting $14.04. The company’s stock had a trading volume of 181,690 shares, compared to its average volume of 366,659. Kornit Digital Ltd. has a fifty-two week low of $13.29 and a fifty-two week high of $29.85. The firm has a market capitalization of $667.60 million, a PE ratio of -11.59 and a beta of 1.90. The company has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $16.22.

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 firm had revenue of $43.78 million for the quarter, compared to analyst estimates of $45.85 million. Kornit Digital had a negative net margin of 27.17% and a negative return on equity of 4.31%. Research analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

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.