Kornit Digital (NASDAQ:KRNT) Cut to “Sell” at StockNews.com

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

Kornit Digital Trading Down 0.3 %

KRNT stock opened at $15.50 on Friday. The company’s 50 day moving average is $17.71 and its two-hundred day moving average is $17.39. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94. The stock has a market cap of $739.97 million, a P/E ratio of -11.74 and a beta of 1.89.

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

Institutional Trading of Kornit Digital

A number of large investors have recently made changes to their positions in the company. Quarry LP lifted its stake in Kornit Digital by 357.9% in the first quarter. Quarry LP now owns 1,273 shares of the industrial products company’s stock valued at $25,000 after buying an additional 995 shares during the last quarter. Allworth Financial LP grew its position in shares of Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,573 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Kornit Digital in the 3rd quarter valued at $39,000. Headlands Technologies LLC purchased a new stake in Kornit Digital in the 3rd quarter valued at $58,000. Finally, UBS Group AG boosted its stake in Kornit Digital by 226.4% during the 1st quarter. UBS Group AG now owns 3,444 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 2,389 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

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.