Kornit Digital Ltd. (NASDAQ:KRNT) is LHM Inc.'s 4th Largest Position

Key Points

• LHM Inc. increased its stake in Kornit Digital Ltd. by 17.3%, making it the fund's fourth largest position, with ownership of approximately 532,545 shares worth about $10.16 million.
• Kornit Digital's stock showed a 7.0% increase recently, with shares opening at $15.19, amidst its ongoing positive revenue growth.
• Analysts have mixed sentiments about Kornit Digital, with Morgan Stanley rating the stock as "overweight" and a consensus target price of $31.40 amid recent earnings reports that surpassed some estimates.

LHM Inc. raised its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,545 shares of the industrial products company's stock after acquiring an additional 78,581 shares during the quarter. Kornit Digital makes up approximately 3.4% of LHM Inc.'s portfolio, making the stock its 4th biggest position. LHM Inc. owned 1.12% of Kornit Digital worth $10,161,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Kornit Digital by 3.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 52,953 shares of the industrial products company's stock worth $1,010,000 after purchasing an additional 1,646 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Kornit Digital by 5.0% during the first quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company's stock worth $12,857,000 after purchasing an additional 31,924 shares during the last quarter. Acuitas Investments LLC purchased a new stake in Kornit Digital during the first quarter worth approximately $695,000. Moody National Bank Trust Division lifted 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 purchasing an additional 33,878 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Kornit Digital by 78.6% during the fourth quarter. Northern Trust Corp now owns 204,005 shares of the industrial products company's stock worth $6,314,000 after purchasing an additional 89,790 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KRNT has been the subject of a number of research reports. Needham & Company LLC reduced their price objective 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. Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. Finally, 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. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $31.40.

Kornit Digital Trading Down 2.7%

Shares of Kornit Digital stock traded down $0.41 during trading hours on Friday, hitting $15.00. 252,484 shares of the company were exchanged, compared to its average volume of 395,726. Kornit Digital Ltd. has a 1 year low of $12.78 and a 1 year high of $34.28. The business has a 50-day moving average of $19.42 and a 200-day moving average of $21.08. The stock has a market capitalization of $671.85 million, a price-to-earnings ratio of -60.00 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%. The business 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 business earned $0.02 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

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.