BidaskClub Lowers Kornit Digital (KRNT) to Strong Sell

BidaskClub lowered shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently commented on the stock. Barclays set a $17.00 price objective on shares of Kornit Digital and gave the company a buy rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Kornit Digital from a hold rating to a sell rating in a research note on Wednesday, October 4th. Citigroup downgraded shares of Kornit Digital from a buy rating to a neutral rating and dropped their price objective for the company from $21.50 to $14.00 in a research note on Wednesday, September 27th. Needham & Company LLC dropped their price objective on shares of Kornit Digital from $22.00 to $19.00 and set a buy rating for the company in a research note on Wednesday, September 27th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $18.00 price objective (down previously from $24.00) on shares of Kornit Digital in a research note on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $19.00.

Shares of Kornit Digital (NASDAQ:KRNT) traded up $0.62 during mid-day trading on Tuesday, reaching $15.70. 545,851 shares of the company traded hands, compared to its average volume of 299,392. Kornit Digital has a 12-month low of $12.85 and a 12-month high of $23.15. The firm has a market cap of $508.56, a P/E ratio of -1,570.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.17.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Kornit Digital by 49.4% during the 2nd quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 2,583 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Kornit Digital by 1,540.0% during the 2nd quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 7,700 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Kornit Digital during the 2nd quarter worth about $198,000. ETF Managers Group LLC purchased a new stake in shares of Kornit Digital during the 2nd quarter worth about $211,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Kornit Digital during the 3rd quarter worth about $246,000. 78.84% of the stock is owned by institutional investors.

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Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

Analyst Recommendations for Kornit Digital (NASDAQ:KRNT)

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