Kornit Digital Target of Unusually High Options Trading (KRNT)

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Kornit Digital Ltd (NASDAQ:KRNT) was the recipient of some unusual options trading on Monday. Stock traders acquired 1,321 put options on the stock. This is an increase of approximately 908% compared to the typical daily volume of 131 put options.

KRNT has been the topic of several analyst reports. ValuEngine downgraded Kornit Digital from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 21st. BidaskClub downgraded Kornit Digital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research downgraded Kornit Digital from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $22.50.

Several hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in shares of Kornit Digital by 71.1% in the 3rd quarter. Legal & General Group Plc now owns 1,345 shares of the industrial products company’s stock worth $29,000 after buying an additional 559 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Kornit Digital by 4.8% in the 4th quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock worth $577,000 after buying an additional 1,411 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Kornit Digital by 23.0% in the 4th quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock worth $209,000 after buying an additional 2,083 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Kornit Digital by 16.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 21,396 shares of the industrial products company’s stock worth $469,000 after buying an additional 3,088 shares during the period. Finally, Cowen Prime Services LLC lifted its holdings in shares of Kornit Digital by 7.3% in the 4th quarter. Cowen Prime Services LLC now owns 64,144 shares of the industrial products company’s stock worth $1,201,000 after buying an additional 4,350 shares during the period. Institutional investors and hedge funds own 87.65% of the company’s stock.

Shares of Kornit Digital stock opened at $20.96 on Wednesday. The firm has a market capitalization of $764.44 million, a price-to-earnings ratio of 106.60 and a beta of 0.92. Kornit Digital has a 52 week low of $11.70 and a 52 week high of $23.90.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Tuesday, February 12th. The industrial products company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). The business had revenue of $37.80 million during the quarter, compared to the consensus estimate of $38.11 million. Kornit Digital had a net margin of 3.78% and a return on equity of 4.53%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. On average, equities research analysts expect that Kornit Digital will post 0.27 earnings per share for the current fiscal year.

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Kornit Digital Company Profile

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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