Kornit Digital (NASDAQ:KRNT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research note published on Tuesday.

Separately, Needham & Company LLC reiterated a buy rating and set a $27.00 price target on shares of Kornit Digital in a research note on Thursday, May 9th.

Kornit Digital Price Performance

KRNT opened at $16.20 on Tuesday. Kornit Digital has a fifty-two week low of $13.29 and a fifty-two week high of $31.70. The firm’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $16.25. The company has a market capitalization of $773.39 million, a P/E ratio of -13.28 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. The business had revenue of $43.78 million for the quarter, compared to analyst estimates of $45.85 million. On average, equities research analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 1,184 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Kornit Digital by 20.0% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 140,706 shares of the industrial products company’s stock valued at $2,060,000 after purchasing an additional 23,456 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Kornit Digital by 217.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 80,466 shares of the industrial products company’s stock valued at $1,178,000 after purchasing an additional 55,086 shares in the last quarter. Dudley & Shanley Inc. boosted its stake in shares of Kornit Digital by 35.0% in the 2nd quarter. Dudley & Shanley Inc. now owns 207,100 shares of the industrial products company’s stock valued at $3,032,000 after purchasing an additional 53,700 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its stake in shares of Kornit Digital by 11.9% in the 2nd quarter. Thompson Investment Management Inc. now owns 585,332 shares of the industrial products company’s stock valued at $8,569,000 after purchasing an additional 62,045 shares in the last quarter. Institutional investors and hedge funds 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.