Kornit Digital Ltd. (NASDAQ:KRNT) Given Average Recommendation of "Buy" by Analysts

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) have received an average rating of "Buy" from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $33.20.

Several analysts recently issued reports on the company. Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of Kornit Digital in a research note on Thursday, June 5th.

Kornit Digital Trading Down 0.2%

KRNT traded down $0.05 on Wednesday, hitting $20.14. 147,934 shares of the company's stock traded hands, compared to its average volume of 306,653. The company's 50 day simple moving average is $20.72 and its 200-day simple moving average is $23.06. The firm has a market cap of $957.66 million, a price-to-earnings ratio of -111.88 and a beta of 1.88. Kornit Digital has a one year low of $13.59 and a one year high of $34.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KRNT. Oppenheimer Asset Management Inc. increased its position in Kornit Digital by 3.2% in 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 raised 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 valued at $12,857,000 after purchasing an additional 31,924 shares in the last quarter. Acuitas Investments LLC purchased a new stake in Kornit Digital during the first quarter valued at $695,000. Trexquant Investment LP raised its stake in Kornit Digital by 27.3% during the fourth quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company's stock valued at $5,828,000 after purchasing an additional 40,422 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Kornit Digital during the fourth quarter valued at $5,712,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Company 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.