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

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a report released on Saturday.

Kornit Digital Stock Down 2.5 %

KRNT stock opened at $15.41 on Friday. The firm has a 50 day moving average of $17.18 and a two-hundred day moving average of $17.29. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $31.94. The company has a market capitalization of $735.67 million, a price-to-earnings ratio of -11.67 and a beta of 1.89.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, topping 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, research analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Kornit Digital

A number of institutional investors have recently modified their holdings of the company. Inflection Point Investments LLP bought a new stake in Kornit Digital during the 4th quarter valued at approximately $17,014,000. William Blair Investment Management LLC grew its stake in shares of Kornit Digital by 971.9% in the third quarter. William Blair Investment Management LLC now owns 876,238 shares of the industrial products company’s stock worth $16,570,000 after acquiring an additional 794,492 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Kornit Digital by 103.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock worth $18,273,000 after acquiring an additional 485,000 shares during the period. Victory Capital Management Inc. acquired a new position in Kornit Digital during the 3rd quarter valued at $9,035,000. Finally, Yelin Lapidot Holdings Management Ltd. bought a new stake in Kornit Digital in the 3rd quarter valued at $7,443,000. Institutional investors own 92.76% of the company’s stock.

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.