Kornit Digital (NASDAQ:KRNT) Upgraded to “Buy” by Craig Hallum

Craig Hallum upgraded shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a buy rating in a report published on Thursday, Marketbeat.com reports. The brokerage currently has $23.00 target price on the industrial products company’s stock.

Several other research analysts have also commented on KRNT. Morgan Stanley upgraded Kornit Digital from an equal weight rating to an overweight rating and set a $29.00 target price for the company in a research report on Thursday, August 10th. Needham & Company LLC reduced their price target on shares of Kornit Digital from $33.00 to $31.00 and set a buy rating on the stock in a research report on Thursday, August 10th. Finally, StockNews.com downgraded shares of Kornit Digital from a hold rating to a sell rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $26.40.

Kornit Digital Stock Performance

KRNT opened at $16.04 on Thursday. Kornit Digital has a 1-year low of $13.29 and a 1-year high of $31.94. The company has a 50-day moving average of $17.56 and a 200-day moving average of $22.75. The company has a market capitalization of $803.86 million, a P/E ratio of -10.35 and a beta of 1.81.

Institutional Trading of Kornit Digital

Several hedge funds have recently bought and sold shares of the company. American International Group Inc. increased its stake in shares of Kornit Digital by 4.5% in the first quarter. American International Group Inc. now owns 6,791 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 291 shares during the period. Raymond James & Associates raised its stake in Kornit Digital by 2.9% during the 2nd quarter. Raymond James & Associates now owns 15,873 shares of the industrial products company’s stock valued at $466,000 after acquiring an additional 452 shares in the last quarter. Prudential Financial Inc. boosted its position in Kornit Digital by 21.2% during the 1st quarter. Prudential Financial Inc. now owns 3,555 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 623 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Kornit Digital by 3.6% in the first quarter. Thrivent Financial for Lutherans now owns 19,406 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 669 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Kornit Digital by 2.9% during the second quarter. JPMorgan Chase & Co. now owns 24,533 shares of the industrial products company’s stock valued at $777,000 after purchasing an additional 691 shares during the period. 93.23% of the stock is currently owned by institutional investors.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.