Polar Asset Management Partners Inc. Purchases 135,709 Shares of Kornit Digital Ltd. $KRNT

Polar Asset Management Partners Inc. increased its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 21.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 779,559 shares of the industrial products company’s stock after buying an additional 135,709 shares during the period. Polar Asset Management Partners Inc. owned 1.74% of Kornit Digital worth $10,524,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Kornit Digital during the second quarter worth about $31,000. State of Tennessee Department of Treasury purchased a new stake in shares of Kornit Digital in the 2nd quarter valued at about $35,000. CIBC Private Wealth Group LLC raised its holdings in shares of Kornit Digital by 1,359.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 1,795 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Kornit Digital during the 3rd quarter valued at about $27,000. Finally, Fortitude Family Office LLC boosted its position in shares of Kornit Digital by 64.2% during the 3rd quarter. Fortitude Family Office LLC now owns 8,164 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 3,191 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

KRNT has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research report on Friday, December 26th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a research report on Wednesday, February 11th. Morgan Stanley reissued a “positive” rating and issued a $17.00 price target on shares of Kornit Digital in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.25.

Kornit Digital Stock Down 1.5%

Shares of KRNT stock opened at $14.20 on Thursday. The business has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $14.19. Kornit Digital Ltd. has a 12-month low of $11.93 and a 12-month high of $23.48. The firm has a market cap of $636.02 million, a P/E ratio of -45.80 and a beta of 1.79.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The firm had revenue of $58.86 million for the quarter, compared to analyst estimates of $58.16 million. Kornit Digital had a negative return on equity of 1.07% and a negative net margin of 6.49%.The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. As a group, research analysts expect that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Kornit Digital Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.