Kornit Digital (NASDAQ:KRNT) Upgraded to Hold by StockNews.com

Kornit Digital (NASDAQ:KRNT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Kornit Digital Price Performance

KRNT opened at $15.90 on Thursday. The company has a market cap of $759.07 million, a price-to-earnings ratio of -12.05 and a beta of 1.89. The firm has a 50 day simple moving average of $17.80 and a 200 day simple moving average of $17.45. Kornit Digital has a fifty-two week low of $13.29 and a fifty-two week high of $31.94.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The firm had revenue of $56.59 million during the quarter, compared to the consensus estimate of $57.35 million. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. As a group, analysts expect that Kornit Digital will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Phoenix Holdings Ltd. lifted its stake in Kornit Digital by 233.4% in the third quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock valued at $3,381,000 after acquiring an additional 125,196 shares during the last quarter. Schroder Investment Management Group increased its holdings in Kornit Digital by 106.3% in the 3rd quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock valued at $13,912,000 after buying an additional 379,140 shares during the period. Chicago Capital LLC increased its holdings in Kornit Digital by 14.6% in the 3rd quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock valued at $31,392,000 after buying an additional 212,102 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at approximately $2,816,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at approximately $9,035,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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