LHM Inc. Has $10.16 Million Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

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 shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 532,545 shares of the industrial products company's stock after purchasing an additional 78,581 shares during the quarter. Kornit Digital accounts for 3.4% of LHM Inc.'s investment portfolio, making the stock its 4th biggest holding. LHM Inc. owned about 1.12% of Kornit Digital worth $10,161,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 1,800 shares during the period. Deutsche Bank AG increased its stake in shares of Kornit Digital by 31.5% in the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock worth $148,000 after acquiring an additional 1,143 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Kornit Digital in the fourth quarter worth $159,000. Headlands Technologies LLC acquired a new position in shares of Kornit Digital in the first quarter worth $101,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Kornit Digital in the fourth quarter worth $274,000. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Trading Down 2.7%

Kornit Digital stock traded down $0.41 during mid-day trading on Friday, hitting $15.00. 252,484 shares of the company's stock were exchanged, compared to its average volume of 395,726. The stock has a market cap of $671.93 million, a P/E ratio of -60.00 and a beta of 1.90. Kornit Digital Ltd. has a 1-year low of $12.78 and a 1-year high of $34.28. The stock has a 50 day moving average of $19.42 and a two-hundred day moving average of $21.13.

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 (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 period in the prior year, the company earned $0.02 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

KRNT has been the topic of a number of research reports. Barclays set a $22.00 price target on shares of Kornit Digital and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Needham & Company LLC dropped their price target on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.