Kornit Digital (NASDAQ:KRNT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research note published on Tuesday morning.

Separately, Needham & Company LLC reaffirmed a buy rating and set a $27.00 price target on shares of Kornit Digital in a research report on Thursday, May 9th.

Kornit Digital Price Performance

Shares of Kornit Digital stock opened at $15.30 on Tuesday. Kornit Digital has a 52 week low of $13.29 and a 52 week high of $31.70. The business has a 50 day moving average price of $14.87 and a 200-day moving average price of $16.26.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $43.78 million during the quarter, compared to analysts’ expectations of $45.85 million. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. As a group, equities research analysts expect that Kornit Digital will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Kornit Digital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC grew its holdings in Kornit Digital by 97.9% during the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 1,027 shares during the period. Bank of New York Mellon Corp grew its holdings in Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Van ECK Associates Corp grew its holdings in Kornit Digital by 12.4% during the fourth quarter. Van ECK Associates Corp now owns 13,099 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 1,441 shares during the period. Silverberg Bernstein Capital Management LLC grew its holdings in Kornit Digital by 1.3% during 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 purchasing an additional 1,550 shares during the period. Finally, Moody National Bank Trust Division grew its holdings in Kornit Digital by 7.9% during the first quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company’s stock valued at $779,000 after purchasing an additional 3,162 shares during the period. 92.76% of the stock is owned by institutional investors.

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.