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

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Separately, Needham & Company LLC reaffirmed a buy rating and issued a $27.00 price target on shares of Kornit Digital in a research note on Thursday.

Kornit Digital Trading Down 1.6 %

NASDAQ KRNT opened at $16.94 on Thursday. The stock has a market capitalization of $808.63 million, a price-to-earnings ratio of -13.89 and a beta of 1.90. The stock has a 50-day moving average of $15.14 and a 200 day moving average of $16.21. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $24.91.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. The business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $50.24 million. During the same period in the prior year, the company posted ($0.28) EPS. The business’s quarterly revenue was down 13.5% on a year-over-year basis. Equities analysts predict that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

A number of large investors have recently modified their holdings of KRNT. Signaturefd LLC boosted its position in Kornit Digital by 29.4% during the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 779 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of 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 purchasing an additional 1,027 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Kornit Digital by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 1,184 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Kornit Digital by 12.4% in the fourth 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 during the last quarter. Finally, Silverberg Bernstein Capital Management LLC lifted its position in Kornit Digital by 1.3% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock worth $2,125,000 after buying an additional 1,550 shares in the last quarter. Hedge funds and other 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.