Dudley & Shanley Inc. increased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 98.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 637,300 shares of the industrial products company's stock after acquiring an additional 316,150 shares during the quarter. Kornit Digital makes up about 2.0% of Dudley & Shanley Inc.'s holdings, making the stock its 23rd largest position. Dudley & Shanley Inc. owned about 1.34% of Kornit Digital worth $12,689,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of KRNT. Northern Trust Corp raised its stake in shares of Kornit Digital by 78.6% in the fourth quarter. Northern Trust Corp now owns 204,005 shares of the industrial products company's stock valued at $6,314,000 after buying an additional 89,790 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Kornit Digital in the fourth quarter valued at $159,000. Bank of America Corp DE grew its position in Kornit Digital by 2.9% during the fourth quarter. Bank of America Corp DE now owns 156,089 shares of the industrial products company's stock worth $4,831,000 after buying an additional 4,384 shares in the last quarter. Deutsche Bank AG grew its position in Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock worth $148,000 after buying an additional 1,143 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Kornit Digital during the fourth quarter worth about $274,000. 92.76% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on KRNT shares. Needham & Company LLC dropped their price target on Kornit Digital from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Barclays set a $22.00 price target on Kornit Digital and gave the company an "equal weight" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Kornit Digital has an average rating of "Buy" and an average target price of $31.40.
Read Our Latest Stock Report on Kornit Digital
Kornit Digital Trading Down 0.8%
Shares of KRNT opened at $14.33 on Tuesday. The business's fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $19.20. Kornit Digital Ltd. has a 12 month low of $12.78 and a 12 month high of $34.28. The company has a market cap of $641.84 million, a price-to-earnings ratio of -57.32 and a beta of 1.87.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $49.75 million for the quarter, compared to analysts' expectations of $52.07 million. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The company's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.
About Kornit Digital
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding KRNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kornit Digital Ltd. (NASDAQ:KRNT - Free Report).
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