Silverberg Bernstein Capital Management LLC Grows Holdings in Kornit Digital Ltd. $KRNT

Key Points

• Silverberg Bernstein Capital Management LLC increased its holdings in Kornit Digital Ltd. by 41.5%, now owning 240,757 shares, making it 3.3% of their investment portfolio.
• Kornit Digital's stock has experienced volatility, with a 52-week low of $12.78 and a high of $34.28, currently trading at $14.33.
• Equities analysts have set varied price targets for Kornit Digital, with a consensus rating of "Buy" and an average price target of $31.40.

Silverberg Bernstein Capital Management LLC lifted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 41.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,757 shares of the industrial products company's stock after purchasing an additional 70,637 shares during the period. Kornit Digital comprises 3.3% of Silverberg Bernstein Capital Management LLC's investment portfolio, making the stock its 8th largest holding. Silverberg Bernstein Capital Management LLC owned approximately 0.51% of Kornit Digital worth $4,793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KRNT. Northern Trust Corp grew its holdings in shares of 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. BNP Paribas Financial Markets bought a new stake in shares of Kornit Digital during the fourth quarter worth about $159,000. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 4,384 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of 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 purchasing an additional 1,143 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Kornit Digital during the fourth quarter worth about $274,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Stock Performance

Shares of KRNT opened at $14.33 on Tuesday. Kornit Digital Ltd. has a 52-week low of $12.78 and a 52-week high of $34.28. The business's 50 day moving average price is $17.33 and its two-hundred day moving average price is $19.20. The firm has a market cap of $641.84 million, a PE ratio of -57.32 and a beta of 1.87.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $49.75 million for the quarter, compared to analyst estimates of $52.07 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company's revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on KRNT shares. Needham & Company LLC cut their price objective on Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Barclays set a $22.00 price objective on Kornit Digital and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Kornit Digital presently has a consensus rating of "Buy" and an average price target of $31.40.

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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