Anchor Investment Management LLC Decreases Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Anchor Investment Management LLC lessened its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 5.4% during the third quarter, HoldingsChannel.com reports. The fund owned 5,675 shares of the industrial products company’s stock after selling 325 shares during the quarter. Anchor Investment Management LLC’s holdings in Kornit Digital were worth $147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Chicago Capital LLC increased its holdings in Kornit Digital by 8.1% in the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after purchasing an additional 231,659 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Kornit Digital by 2.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock valued at $54,611,000 after buying an additional 53,257 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Kornit Digital by 6.0% during the 2nd quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company’s stock valued at $14,462,000 after buying an additional 56,157 shares during the period. LHM Inc. acquired a new position in Kornit Digital during the 2nd quarter worth approximately $12,042,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in Kornit Digital by 35.7% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock worth $16,045,000 after acquiring an additional 163,543 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of KRNT stock opened at $32.10 on Friday. The firm has a fifty day moving average of $28.24 and a two-hundred day moving average of $21.38. The firm has a market cap of $1.53 billion, a P/E ratio of -36.48 and a beta of 2.01. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $33.31.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. During the same period last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KRNT. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Barclays lifted their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kornit Digital has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.