Kornit Digital (NASDAQ:KRNT) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Kornit Digital Ltd. (NASDAQ:KRNT) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.82 and traded as high as $16.08. Kornit Digital shares last traded at $16.06, with a volume of 187,728 shares.

Analyst Upgrades and Downgrades

KRNT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Morgan Stanley raised their price target on shares of Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Needham & Company LLC lifted their price objective on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Kornit Digital Price Performance

The business’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $15.07. The company has a market capitalization of $719.33 million, a PE ratio of -41.18 and a beta of 1.75.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $48.54 million for the quarter, compared to analyst estimates of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. Kornit Digital’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. As a group, analysts anticipate that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Institutional Trading of Kornit Digital

Several institutional investors and hedge funds have recently bought and sold shares of KRNT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kornit Digital by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company’s stock valued at $2,248,000 after purchasing an additional 2,105 shares during the period. Jane Street Group LLC raised its holdings in shares of Kornit Digital by 277.4% in the 1st quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company’s stock valued at $629,000 after buying an additional 24,241 shares during the period. Legal & General Group Plc raised its holdings in shares of Kornit Digital by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 51,246 shares of the industrial products company’s stock valued at $1,020,000 after buying an additional 4,534 shares during the period. Nebula Research & Development LLC lifted its stake in Kornit Digital by 68.9% during the 2nd quarter. Nebula Research & Development LLC now owns 25,390 shares of the industrial products company’s stock worth $506,000 after acquiring an additional 10,357 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Kornit Digital by 0.8% during the 2nd quarter. Sei Investments Co. now owns 271,305 shares of the industrial products company’s stock worth $5,402,000 after acquiring an additional 2,195 shares in the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.