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

Kornit Digital (NASDAQ:KRNT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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

Kornit Digital Price Performance

NASDAQ KRNT opened at $15.36 on Thursday. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $31.94. The company has a market capitalization of $733.29 million, a price-to-earnings ratio of -12.59 and a beta of 1.90. The company’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $16.45.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported ($0.23) EPS 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 for the quarter, compared to the consensus estimate of $45.85 million. As a group, analysts anticipate that Kornit Digital will post -0.28 EPS for the current year.

Institutional Trading of Kornit Digital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC raised its holdings in shares of Kornit Digital by 97.9% during the first 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 during the period. Moody National Bank Trust Division raised its holdings in shares of Kornit Digital by 3.5% during the fourth quarter. Moody National Bank Trust Division now owns 39,819 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 1,350 shares during the period. Van ECK Associates Corp raised its holdings in shares of Kornit Digital by 12.4% during the fourth 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 during the period. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Kornit Digital by 1.3% in 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 acquiring an additional 1,550 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Kornit Digital by 402.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 4,642 shares during the period. 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.