Trexquant Investment LP Buys 40,422 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Trexquant Investment LP boosted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,307 shares of the industrial products company's stock after acquiring an additional 40,422 shares during the quarter. Trexquant Investment LP owned approximately 0.40% of Kornit Digital worth $5,828,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp grew its position in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after buying an additional 393 shares during the period. US Bancorp DE increased its stake in Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock worth $257,000 after purchasing an additional 572 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock worth $468,000 after acquiring an additional 625 shares during the period. American Century Companies Inc. raised its stake in shares of Kornit Digital by 8.5% in the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock valued at $344,000 after purchasing an additional 874 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 988 shares in the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Trading Down 6.2 %

NASDAQ:KRNT traded down $1.19 on Thursday, reaching $17.98. 148,667 shares of the stock traded hands, compared to its average volume of 293,543. The firm has a market capitalization of $854.79 million, a price-to-earnings ratio of -51.10 and a beta of 2.08. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.29. The company's 50 day moving average is $23.07 and its 200-day moving average is $26.87.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, equities research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KRNT shares. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Needham & Company LLC lowered their target price on Kornit Digital from $34.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

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.