Tectonic Advisors LLC Invests $705,000 in Kornit Digital Ltd. (NASDAQ:KRNT)

Tectonic Advisors LLC purchased a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,275 shares of the industrial products company’s stock, valued at approximately $705,000. Tectonic Advisors LLC owned approximately 0.06% of Kornit Digital as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its holdings in shares of Kornit Digital by 238.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock worth $2,332,000 after buying an additional 63,629 shares in the last quarter. Signaturefd LLC increased its holdings in Kornit Digital by 69.7% in the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 2,390 shares in the last quarter. Chicago Capital LLC increased its holdings in Kornit Digital by 8.1% in the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock worth $79,811,000 after purchasing an additional 231,659 shares in the last quarter. Trust Point Inc. increased its holdings in Kornit Digital by 4.6% in the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 785 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Kornit Digital in the 3rd quarter worth about $6,962,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Morgan Stanley upped their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Kornit Digital in a report on Thursday, September 12th. StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Craig Hallum upped their price target on Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Kornit Digital has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Kornit Digital Trading Up 0.8 %

NASDAQ KRNT opened at $23.70 on Friday. The business’s 50-day moving average price is $22.63 and its two-hundred day moving average price is $17.89. Kornit Digital Ltd. has a 12 month low of $13.29 and a 12 month high of $26.64. The firm has a market capitalization of $1.13 billion, a PE ratio of -23.01 and a beta of 1.92.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The company had revenue of $48.62 million for the quarter, compared to analyst estimates of $50.24 million. During the same quarter in the prior year, the company earned ($0.28) EPS. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, analysts forecast that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

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.