Kornit Digital (NASDAQ:KRNT) Share Price Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• Shares crossed above its 50-day moving average — KRNT traded as high as $15.97, last at $15.40, with a 50-day MA of $15.21 and volume of 155,240 shares.
• Analyst coverage is mixed (three Buys, one Hold, one Sell), producing a consensus rating of Hold and an average price target of $20.25.
• Fundamentals show a market cap of about $690M and a negative PE (~-49.7); the company beat quarterly EPS ($0.18 vs. $0.14) while revenue fell 3% year-over-year, and analysts forecast -0.24 EPS for the current year.

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.21 and traded as high as $15.97. Kornit Digital shares last traded at $15.40, with a volume of 155,240 shares changing hands.

Wall Street Analyst Weigh In

KRNT has been the topic of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Kornit Digital in a research report on Wednesday, February 11th. Morgan Stanley reissued a "positive" rating and issued a $17.00 price target on shares of Kornit Digital in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a research report on Sunday, April 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kornit Digital has an average rating of "Hold" and a consensus price target of $20.25.

Kornit Digital Trading Down 1.9%

The firm has a market capitalization of $689.84 million, a PE ratio of -49.68 and a beta of 1.79. The firm's fifty day moving average price is $15.21 and its 200 day moving average price is $14.41.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. Kornit Digital had a negative return on equity of 1.07% and a negative net margin of 6.49%.The business had revenue of $58.86 million during the quarter, compared to analyst estimates of $58.16 million. During the same period last year, the company earned $0.18 earnings per share. Kornit Digital's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts expect that Kornit Digital Ltd. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Kornit Digital by 1,359.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 1,795 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Kornit Digital during the 3rd quarter worth $27,000. Raymond James Financial Inc. bought a new position in shares of Kornit Digital during the 2nd quarter valued at $31,000. State of Tennessee Department of Treasury acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at $35,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Kornit Digital by 64.2% in the 3rd quarter. Fortitude Family Office LLC now owns 8,164 shares of the industrial products company's stock valued at $110,000 after purchasing an additional 3,191 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Company Profile

Kornit Digital Ltd. NASDAQ: KRNT is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha'Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company's flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.

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