Kornit Digital (NASDAQ:KRNT) Trading Down 3.2% – Time to Sell?

Kornit Digital Ltd. (NASDAQ:KRNT)’s share price was down 3.2% during trading on Monday . The stock traded as low as $21.76 and last traded at $21.95. Approximately 86,623 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 301,434 shares. The stock had previously closed at $22.67.

Wall Street Analyst Weigh In

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

Kornit Digital Stock Down 1.0 %

The company has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $27.23. The company has a market capitalization of $1.02 billion, a P/E ratio of -61.31 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data 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 return on equity of 1.51% and a negative net margin of 8.24%. As a group, research analysts expect that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 393 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Kornit Digital by 654.5% during the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after buying an additional 988 shares during the period. Deutsche Bank AG boosted its position in shares of Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock valued at $148,000 after buying an additional 1,143 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Kornit Digital during the fourth quarter valued at approximately $159,000. 92.76% of the stock is owned by 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.