HighTower Advisors LLC Buys Shares of 7,644 Kornit Digital Ltd. (NASDAQ:KRNT)

HighTower Advisors LLC purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,644 shares of the industrial products company’s stock, valued at approximately $237,000.

A number of other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Kornit Digital during the third quarter worth approximately $934,000. Lisanti Capital Growth LLC increased its position in shares of Kornit Digital by 119.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock valued at $6,618,000 after purchasing an additional 116,170 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after buying an additional 57,068 shares in the last quarter. Dudley & Shanley Inc. raised its stake in shares of Kornit Digital by 25.3% in the 3rd quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company’s stock worth $6,705,000 after buying an additional 52,425 shares in the last quarter. Finally, Meros Investment Management LP lifted its holdings in shares of Kornit Digital by 19.2% in the third quarter. Meros Investment Management LP now owns 276,040 shares of the industrial products company’s stock valued at $7,131,000 after buying an additional 44,456 shares during the period. Institutional investors own 92.76% of the company’s stock.

Analyst Ratings Changes

KRNT has been the topic of several research reports. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC raised their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Stock Up 3.5 %

Shares of KRNT opened at $19.59 on Thursday. The firm has a market capitalization of $931.54 million, a PE ratio of -55.97 and a beta of 2.08. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.29. The stock’s fifty day simple moving average is $24.86 and its 200-day simple moving average is $27.23.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Analysts anticipate that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Kornit Digital 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.