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

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a report published on Saturday.

Kornit Digital Price Performance

Shares of KRNT stock opened at $15.80 on Friday. The firm’s 50-day simple moving average is $17.25 and its 200-day simple moving average is $17.29. Kornit Digital has a 1-year low of $13.29 and a 1-year high of $31.94. The firm has a market cap of $754.29 million, a P/E ratio of -11.97 and a beta of 1.89.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. The company had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. Analysts expect that Kornit Digital will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Kornit Digital

A number of institutional investors have recently modified their holdings of KRNT. Allworth Financial LP raised its holdings in Kornit Digital by 9,252.9% in the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,573 shares during the period. Headlands Technologies LLC purchased a new position in shares of Kornit Digital in the 3rd quarter valued at $58,000. Tower Research Capital LLC TRC raised its stake in shares of Kornit Digital by 402.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 4,642 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Kornit Digital during the 4th quarter valued at $140,000. Finally, Handelsbanken Fonder AB boosted its position in Kornit Digital by 40.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,957 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,157 shares during the period. 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.