Kornit Digital Ltd. $KRNT Shares Sold by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC has reduced its position in Kornit Digital Ltd. by 37.5%, now holding 31,040 shares valued at approximately $592,000.
• Several institutional investors, including Castleark Management LLC and Nicholas Investment Partners LP, have made significant changes to their positions in Kornit Digital, contributing to a total of 92.76% institutional ownership of the company.
• Equities analysts have set new price targets for Kornit Digital, with estimates ranging from $22.00 to $31.40, indicating a mixed outlook on the stock with a consensus rating of "Buy."

Bosun Asset Management LLC cut its holdings in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,040 shares of the industrial products company's stock after selling 18,586 shares during the quarter. Bosun Asset Management LLC owned 0.07% of Kornit Digital worth $592,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Kornit Digital by 3.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,953 shares of the industrial products company's stock worth $1,010,000 after buying an additional 1,646 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kornit Digital by 5.0% in the 1st quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company's stock valued at $12,857,000 after acquiring an additional 31,924 shares during the last quarter. Acuitas Investments LLC purchased a new position in Kornit Digital in the first quarter worth about $695,000. Jump Financial LLC purchased a new position in Kornit Digital in the first quarter worth about $456,000. Finally, Moody National Bank Trust Division increased its stake in Kornit Digital by 39.9% during the first quarter. Moody National Bank Trust Division now owns 118,883 shares of the industrial products company's stock worth $2,268,000 after acquiring an additional 33,878 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

KRNT stock traded down $0.04 during trading on Tuesday, reaching $15.14. 167,297 shares of the company traded hands, compared to its average volume of 310,210. The business has a 50 day simple moving average of $17.84 and a 200 day simple moving average of $19.56. Kornit Digital Ltd. has a 12 month low of $12.78 and a 12 month high of $34.28. The company has a market capitalization of $678.17 million, a price-to-earnings ratio of -60.62 and a beta of 1.87.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The company had revenue of $49.75 million during the quarter, compared to analysts' expectations of $52.07 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. Kornit Digital's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KRNT shares. Barclays set a $22.00 price objective on Kornit Digital and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Needham & Company LLC cut their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $31.40.

Kornit Digital 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.