Falcon Point Capital LLC reduced its holdings in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 39.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,360 shares of the industrial products company’s stock after selling 12,742 shares during the quarter. Falcon Point Capital LLC’s holdings in Kornit Digital were worth $613,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in KRNT. Pembroke Management LTD bought a new stake in shares of Kornit Digital during the 1st quarter worth $14,065,000. Wasatch Advisors Inc. raised its position in shares of Kornit Digital by 41.2% during the first quarter. Wasatch Advisors Inc. now owns 799,339 shares of the industrial products company’s stock worth $19,024,000 after acquiring an additional 233,397 shares during the last quarter. BlackRock Inc. raised its position in shares of Kornit Digital by 20.3% during the fourth quarter. BlackRock Inc. now owns 494,083 shares of the industrial products company’s stock worth $9,249,000 after acquiring an additional 83,303 shares during the last quarter. Summit Creek Advisors LLC raised its position in shares of Kornit Digital by 15.1% during the first quarter. Summit Creek Advisors LLC now owns 517,120 shares of the industrial products company’s stock worth $12,307,000 after acquiring an additional 67,840 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. raised its position in shares of Kornit Digital by 25.3% during the first quarter. Global Alpha Capital Management Ltd. now owns 322,700 shares of the industrial products company’s stock worth $7,680,000 after acquiring an additional 65,100 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
Shares of Kornit Digital stock opened at $27.07 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of 112.79 and a beta of 1.05. The business’s fifty day simple moving average is $29.93 and its 200 day simple moving average is $26.54. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. Kornit Digital Ltd has a 12 month low of $16.10 and a 12 month high of $32.20.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $43.89 million during the quarter, compared to analysts’ expectations of $45.91 million. Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. Kornit Digital’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts predict that Kornit Digital Ltd will post 0.3 EPS for the current fiscal year.
A number of brokerages have recently issued reports on KRNT. TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, August 7th. Stifel Nicolaus set a $35.00 target price on Kornit Digital and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Finally, Zacks Investment Research lowered Kornit Digital from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $28.00.
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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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