StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT – Free Report) from a sell rating to a hold rating in a report released on Friday.
Separately, Needham & Company LLC reaffirmed a buy rating and issued a $27.00 price target on shares of Kornit Digital in a research report on Thursday, May 9th.
Get Our Latest Stock Report on Kornit Digital
Kornit Digital Stock Performance
Kornit Digital (NASDAQ:KRNT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Kornit Digital had a negative net margin of 27.17% and a negative return on equity of 4.31%. The company had revenue of $43.78 million during the quarter, compared to the consensus estimate of $45.85 million. On average, analysts forecast that Kornit Digital will post -0.28 EPS for the current fiscal year.
Institutional Trading of Kornit Digital
A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Kornit Digital during the first quarter valued at approximately $664,000. California State Teachers Retirement System increased its position in shares of Kornit Digital by 9.9% during the first quarter. California State Teachers Retirement System now owns 55,682 shares of the industrial products company’s stock valued at $1,009,000 after purchasing an additional 5,005 shares during the period. Kennedy Capital Management LLC increased its position in shares of Kornit Digital by 26.6% during the first quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company’s stock valued at $1,732,000 after purchasing an additional 20,067 shares during the period. Roubaix Capital LLC increased its position in shares of Kornit Digital by 104.9% during the first quarter. Roubaix Capital LLC now owns 141,875 shares of the industrial products company’s stock valued at $2,571,000 after purchasing an additional 72,638 shares during the period. Finally, William Blair Investment Management LLC increased its position in shares of Kornit Digital by 4.0% during 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 during the period. 92.76% of the stock is currently 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.
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