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

StockNews.com lowered shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research note published on Wednesday.

Separately, Needham & Company LLC restated a buy rating and issued a $27.00 target price on shares of Kornit Digital in a research note on Thursday, May 9th.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $14.71 on Wednesday. The stock has a market capitalization of $699.46 million, a price-to-earnings ratio of -12.06 and a beta of 1.90. The stock’s 50 day moving average price is $14.97 and its two-hundred day moving average price is $16.22. Kornit Digital has a 52 week low of $13.29 and a 52 week high of $29.90.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) EPS 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 the consensus estimate 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, equities research analysts forecast that Kornit Digital will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 1,184 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Kornit Digital by 12.4% during the 4th quarter. Van ECK Associates Corp now owns 13,099 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC raised its stake in shares of Kornit Digital by 1.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

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.