Kornit Digital (NASDAQ:KRNT) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research report released on Saturday.

Kornit Digital Stock Down 0.5 %

Shares of KRNT stock opened at $15.80 on Friday. The firm has a market cap of $754.29 million, a price-to-earnings ratio of -11.97 and a beta of 1.89. Kornit Digital has a 52-week low of $13.29 and a 52-week high of $31.94. The company’s 50 day moving average is $17.25 and its 200 day moving average is $17.29.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The business had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. Analysts anticipate that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Trading of Kornit Digital

A number of institutional investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Kornit Digital by 103.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock valued at $18,273,000 after purchasing an additional 485,000 shares during the last quarter. Phoenix Holdings Ltd. increased its stake in Kornit Digital by 233.4% during the 3rd quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock valued at $3,381,000 after purchasing an additional 125,196 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Kornit Digital by 106.3% in the third quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock worth $13,912,000 after buying an additional 379,140 shares during the last quarter. Chicago Capital LLC lifted its stake in shares of Kornit Digital by 14.6% during the third quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock worth $31,392,000 after buying an additional 212,102 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Kornit Digital during the third quarter valued at $2,816,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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.