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

StockNews.com cut shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research report sent to investors on Friday.

Kornit Digital Stock Up 1.4 %

Kornit Digital stock opened at $15.69 on Friday. The stock has a market cap of $749.04 million, a price-to-earnings ratio of -11.89 and a beta of 1.89. Kornit Digital has a 12-month low of $13.29 and a 12-month high of $31.94. The business’s 50-day simple moving average is $17.56 and its 200 day simple moving average is $17.33.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $56.59 million for the quarter, compared to analyst estimates of $57.35 million. As a group, sell-side analysts expect that Kornit Digital will post -0.28 EPS for the current year.

Institutional Trading of Kornit Digital

A number of institutional investors have recently bought and sold shares of KRNT. Allworth Financial LP boosted its position in shares of Kornit Digital by 9,252.9% in the 3rd quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,573 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Kornit Digital during the 3rd quarter worth about $58,000. Tower Research Capital LLC TRC grew its position in shares of Kornit Digital by 402.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after buying an additional 4,642 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Kornit Digital in the 3rd quarter valued at about $130,000. Finally, Anchor Investment Management LLC acquired a new stake in shares of Kornit Digital in the 4th quarter valued at approximately $140,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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