Blueshift Asset Management LLC bought a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,505 shares of the industrial products company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Kornit Digital in the 1st quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Kornit Digital in the 1st quarter valued at $28,000. Schroder Investment Management Group purchased a new position in Kornit Digital in the 4th quarter valued at $30,000. HM Payson & Co. purchased a new position in Kornit Digital in the 4th quarter valued at $39,000. Finally, Signaturefd LLC grew its position in Kornit Digital by 135.6% in the 1st quarter. Signaturefd LLC now owns 549 shares of the industrial products company’s stock valued at $45,000 after buying an additional 316 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
KRNT has been the topic of a number of analyst reports. Craig Hallum lifted their price objective on shares of Kornit Digital from $26.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 11th. Stifel Nicolaus downgraded Kornit Digital from a “buy” rating to a “hold” rating and reduced their target price for the company from $100.00 to $50.00 in a report on Wednesday, July 6th. Needham & Company LLC raised their target price on Kornit Digital from $38.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Citigroup reduced their target price on Kornit Digital from $90.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, July 6th. Finally, TheStreet downgraded Kornit Digital from a “c-” rating to a “d+” rating in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Kornit Digital currently has a consensus rating of “Hold” and a consensus price target of $75.60.
Kornit Digital Stock Down 1.2 %
NASDAQ:KRNT opened at $28.89 on Friday. The company has a market capitalization of $1.43 billion, a PE ratio of -74.08 and a beta of 1.82. Kornit Digital Ltd. has a 52-week low of $20.40 and a 52-week high of $181.38. The stock has a fifty day simple moving average of $29.62 and a 200-day simple moving average of $53.42.
Kornit Digital (NASDAQ:KRNT – Get Rating) last released its quarterly earnings results on Wednesday, August 10th. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The firm had revenue of $62.50 million for the quarter, compared to analyst estimates of $58.00 million. Kornit Digital had a negative return on equity of 1.89% and a negative net margin of 6.29%. The company’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. As a group, equities analysts anticipate that Kornit Digital Ltd. will post -0.93 earnings per share for the current year.
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.
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