Polar Asset Management Partners Inc. Has $7.65 Million Position in Kornit Digital Ltd. $KRNT

Polar Asset Management Partners Inc. lessened its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 29.9% in the first quarter, HoldingsChannel.com reports. The firm owned 521,734 shares of the industrial products company’s stock after selling 222,910 shares during the period. Polar Asset Management Partners Inc.’s holdings in Kornit Digital were worth $7,649,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in shares of Kornit Digital by 44.5% in the first quarter. Renaissance Technologies LLC now owns 91,500 shares of the industrial products company’s stock valued at $1,341,000 after buying an additional 28,200 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Kornit Digital by 97.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 470,962 shares of the industrial products company’s stock worth $6,904,000 after acquiring an additional 232,808 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Kornit Digital by 185.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,292,586 shares of the industrial products company’s stock worth $18,949,000 after acquiring an additional 839,336 shares in the last quarter. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Kornit Digital by 8.6% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 359,723 shares of the industrial products company’s stock worth $5,274,000 after acquiring an additional 28,467 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Kornit Digital by 202.6% in the 4th quarter. XTX Topco Ltd now owns 50,411 shares of the industrial products company’s stock worth $725,000 after acquiring an additional 33,750 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

KRNT opened at $15.23 on Monday. The company has a market capitalization of $654.39 million, a price-to-earnings ratio of -39.05 and a beta of 1.73. The firm’s fifty day moving average price is $15.67 and its two-hundred day moving average price is $15.26. Kornit Digital Ltd. has a 1 year low of $11.93 and a 1 year high of $22.06.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $48.54 million during the quarter, compared to analyst estimates of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, equities analysts anticipate that Kornit Digital Ltd. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRNT. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Needham & Company LLC boosted their price objective on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Morgan Stanley increased their price objective on Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.00.

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.