Kornit Digital (NASDAQ:KRNT) Downgraded to Sell at StockNews.com

Kornit Digital (NASDAQ:KRNT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Kornit Digital Trading Down 0.3 %

Shares of Kornit Digital stock opened at $15.50 on Friday. The stock’s fifty day moving average price is $17.71 and its 200-day moving average price is $17.39. The firm has a market cap of $739.97 million, a P/E ratio of -11.74 and a beta of 1.89. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $31.94.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 business had revenue of $56.59 million during the quarter, compared to analyst estimates of $57.35 million. Analysts forecast that Kornit Digital will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in Kornit Digital by 357.9% during the first quarter. Quarry LP now owns 1,273 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 995 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Kornit Digital by 9,252.9% in the 3rd 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 in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Kornit Digital in the 3rd quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in shares of Kornit Digital during the 3rd quarter worth approximately $58,000. Finally, UBS Group AG lifted its position in Kornit Digital by 226.4% during the first quarter. UBS Group AG now owns 3,444 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,389 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.