Kornit Digital (NASDAQ:KRNT) Stock Jumps 3.9% – Should You Buy?

Kornit Digital Ltd. (NASDAQ:KRNT)’s share price traded up 3.9% during trading on Monday. The company traded as high as $15.51 and last traded at $15.7640. 7,013 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 306,281 shares. The stock had previously closed at $15.17.

Analysts Set New Price Targets

KRNT has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Kornit Digital from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Needham & Company LLC raised their price target on shares of Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Zacks Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Morgan Stanley boosted their price objective on shares of Kornit Digital from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kornit Digital currently has an average rating of “Hold” and an average target price of $21.50.

Kornit Digital Trading Down 0.3%

The business has a 50-day moving average price of $16.13 and a 200-day moving average price of $15.74. The stock has a market cap of $666.68 million, a PE ratio of -32.21 and a beta of 1.74.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $55.32 million for the quarter, compared to analysts’ expectations of $52.80 million. Kornit Digital had a negative return on equity of 1.00% and a negative net margin of 9.42%.Kornit Digital’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Equities analysts expect that Kornit Digital Ltd. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KRNT. Tidal Investments LLC lifted its position in Kornit Digital by 78.3% in the second quarter. Tidal Investments LLC now owns 68,838 shares of the industrial products company’s stock valued at $1,119,000 after buying an additional 30,233 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Kornit Digital during the second quarter worth $300,000. Lone Peak Global Investors LLC boosted its position in shares of Kornit Digital by 2.6% during the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock worth $586,000 after buying an additional 908 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Kornit Digital in the second quarter valued at $224,000. Finally, American Capital Management Inc. purchased a new stake in shares of Kornit Digital in the 2nd quarter valued at $4,598,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) develops and manufactures digital printing technologies for the textile, apparel, and related consumer-product industries. Its solutions are designed to support on-demand, short-run, and customized production, helping businesses reduce reliance on traditional analog printing processes.

The company’s product portfolio includes direct-to-garment and direct-to-fabric printing systems, digital printing inks, pretreatment solutions, and workflow software. Kornit also provides related services and support intended to help customers manage design, production, color, and order fulfillment across textile-printing operations.

Kornit serves customers globally, including apparel brands, retailers, manufacturers, print service providers, and e-commerce businesses.