StockNews.com cut shares of Kornit Digital (NASDAQ:KRNT - Free Report) from a hold rating to a sell rating in a research note released on Friday.
Kornit Digital Stock Down 0.1 %
Kornit Digital stock traded down $0.02 during mid-day trading on Friday, reaching $15.48. 191,024 shares of the company's stock were exchanged, compared to its average volume of 505,945. The business's fifty day simple moving average is $17.66 and its 200 day simple moving average is $17.38. The firm has a market capitalization of $739.02 million, a PE ratio of -11.57 and a beta of 1.89. Kornit Digital has a one year low of $13.29 and a one year high of $31.94.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The business had revenue of $56.59 million for the quarter, compared to analyst estimates of $57.35 million. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. On average, sell-side analysts forecast that Kornit Digital will post -0.28 earnings per share for the current year.
Institutional Trading of Kornit Digital
Several hedge funds have recently made changes to their positions in the company. Taylor Frigon Capital Management LLC raised its stake in shares of Kornit Digital by 47.3% in the first quarter. Taylor Frigon Capital Management LLC now owns 201,431 shares of the industrial products company's stock valued at $3,650,000 after buying an additional 64,718 shares during the period. Dudley & Shanley Inc. raised its stake in shares of Kornit Digital by 47.2% in the first quarter. Dudley & Shanley Inc. now owns 153,400 shares of the industrial products company's stock valued at $2,780,000 after buying an additional 49,180 shares during the period. Wasatch Advisors LP raised its stake in shares of Kornit Digital by 6.7% in the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company's stock valued at $32,803,000 after buying an additional 114,372 shares during the period. Thompson Investment Management Inc. raised its stake in shares of Kornit Digital by 13.6% in the first quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company's stock valued at $9,482,000 after buying an additional 62,607 shares during the period. Finally, Silverberg Bernstein Capital Management LLC raised its stake in shares of Kornit Digital by 1.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company's stock valued at $2,125,000 after buying an additional 1,550 shares during the period. 92.76% of the stock is currently owned by institutional investors.
About Kornit Digital
(
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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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.
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