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

Kornit Digital (NASDAQ:KRNT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Kornit Digital Stock Up 1.4 %

Kornit Digital stock opened at $16.00 on Friday. The company has a 50 day moving average of $17.02 and a 200-day moving average of $17.29. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94. The stock has a market capitalization of $763.84 million, a PE ratio of -12.12 and a beta of 1.88.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data 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 business had revenue of $56.59 million for the quarter, compared to analysts’ expectations of $57.35 million. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. Equities analysts anticipate that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its position in Kornit Digital by 9,252.9% during the 3rd 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. Headlands Technologies LLC acquired a new position in Kornit Digital during the third quarter worth $58,000. Tower Research Capital LLC TRC boosted its holdings in Kornit Digital by 402.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 4,642 shares during the last quarter. Anchor Investment Management LLC bought a new position in Kornit Digital in the fourth quarter valued at $140,000. Finally, Van ECK Associates Corp increased its stake in Kornit Digital by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock valued at $220,000 after buying an additional 742 shares during the last quarter. 92.76% 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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.