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

Kornit Digital (NASDAQ:KRNT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $15.88 on Friday. Kornit Digital has a one year low of $13.29 and a one year high of $31.94. The stock has a 50-day moving average of $17.32 and a 200 day moving average of $17.28. The company has a market capitalization of $758.11 million, a price-to-earnings ratio of -12.03 and a beta of 1.89.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Senvest Management LLC lifted its position in shares of Kornit Digital by 0.6% during the 4th quarter. Senvest Management LLC now owns 4,396,160 shares of the industrial products company’s stock valued at $84,230,000 after buying an additional 25,000 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Kornit Digital by 6.7% during the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after buying an additional 114,372 shares in the last quarter. Chicago Capital LLC lifted its position in shares of Kornit Digital by 14.6% during the 3rd quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock valued at $31,392,000 after buying an additional 212,102 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Kornit Digital by 23.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after buying an additional 282,241 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Kornit Digital by 103.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after buying an additional 485,000 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Company Profile

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.