Kornit Digital (NASDAQ:KRNT) Stock Rating Upgraded by StockNews.com

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

Separately, Needham & Company LLC reissued a buy rating and set a $27.00 price objective on shares of Kornit Digital in a research report on Thursday, May 9th.

Kornit Digital Price Performance

NASDAQ KRNT opened at $16.20 on Tuesday. The company has a market cap of $773.39 million, a P/E ratio of -13.28 and a beta of 1.90. The stock has a 50-day moving average of $14.89 and a two-hundred day moving average of $16.25. Kornit Digital has a 1-year low of $13.29 and a 1-year high of $31.70.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $43.78 million during the quarter, compared to analyst estimates of $45.85 million. Kornit Digital had a negative net margin of 27.17% and a negative return on equity of 4.31%. On average, analysts anticipate that Kornit Digital will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lisanti Capital Growth LLC acquired a new position in shares of Kornit Digital during the fourth quarter worth about $982,000. Wasatch Advisors LP boosted its holdings in Kornit Digital by 6.7% in the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after purchasing an additional 114,372 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Kornit Digital by 103.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after purchasing an additional 485,000 shares in the last quarter. Roubaix Capital LLC acquired a new position in Kornit Digital in the fourth quarter valued at approximately $1,327,000. Finally, William Blair Investment Management LLC boosted its holdings in Kornit Digital by 4.0% in the first quarter. William Blair Investment Management LLC now owns 931,706 shares of the industrial products company’s stock valued at $16,883,000 after purchasing an additional 35,930 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

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.