Kornit Digital (NASDAQ:KRNT) Sets New 1-Year High at $32.89

Kornit Digital Ltd (NASDAQ:KRNT) reached a new 52-week high during trading on Thursday . The stock traded as high as $32.89 and last traded at $32.81, with a volume of 26681 shares changing hands. The stock had previously closed at $32.30.

Several equities research analysts have recently commented on KRNT shares. ValuEngine downgraded Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus set a $35.00 price objective on Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. Zacks Investment Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Finally, BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.00.

The business has a 50 day moving average of $30.79 and a two-hundred day moving average of $28.95. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.31 billion, a P/E ratio of 134.79 and a beta of 1.10.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The business had revenue of $43.89 million during the quarter, compared to the consensus estimate of $45.91 million. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that Kornit Digital Ltd will post 0.3 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. bought a new stake in Kornit Digital in the 2nd quarter valued at $888,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Kornit Digital by 15.2% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,954,254 shares of the industrial products company’s stock valued at $93,532,000 after acquiring an additional 390,395 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Kornit Digital during the 2nd quarter worth $103,000. Swiss National Bank increased its position in Kornit Digital by 32.3% during the 2nd quarter. Swiss National Bank now owns 74,600 shares of the industrial products company’s stock worth $2,362,000 after buying an additional 18,200 shares during the period. Finally, BlueMountain Capital Management LLC bought a new position in Kornit Digital during the 2nd quarter worth $2,216,000. Institutional investors and hedge funds own 96.06% of the company’s stock.

About Kornit Digital (NASDAQ:KRNT)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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