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

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

Kornit Digital Stock Performance

Shares of Kornit Digital stock opened at $15.88 on Friday. Kornit Digital has a one year low of $13.29 and a one year high of $31.94. The company has a market cap of $758.11 million, a price-to-earnings ratio of -12.03 and a beta of 1.89. The business’s 50 day moving average price is $17.32 and its 200 day moving average price is $17.28.

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

Institutional Investors Weigh In On Kornit Digital

Institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of Kornit Digital by 9,252.9% in the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,573 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Kornit Digital in the third quarter valued at $58,000. Tower Research Capital LLC TRC boosted its holdings in Kornit Digital by 402.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 4,642 shares during the period. Anchor Investment Management LLC purchased a new position in Kornit Digital in the fourth quarter valued at $140,000. Finally, Handelsbanken Fonder AB boosted its holdings in Kornit Digital by 40.5% in the third quarter. Handelsbanken Fonder AB now owns 10,957 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 3,157 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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.