Kornit Digital (NASDAQ:KRNT) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Kornit Digital (NASDAQ:KRNT) from a sell rating to a hold rating in a research report released on Saturday.

Kornit Digital Stock Performance

Shares of Kornit Digital stock opened at $15.88 on Friday. The company’s 50 day moving average is $17.32 and its 200 day moving average is $17.29. Kornit Digital has a twelve month low of $13.29 and a twelve month high of $31.94.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. Kornit Digital had a negative net margin of 29.28% and a negative return on equity of 5.05%. The company had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. Equities analysts expect that Kornit Digital will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC raised its position in Kornit Digital by 0.6% in the fourth quarter. Senvest Management LLC now owns 4,396,160 shares of the industrial products company’s stock worth $84,230,000 after acquiring an additional 25,000 shares during the period. Wasatch Advisors LP increased 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 worth $32,803,000 after purchasing an additional 114,372 shares in the last quarter. Chicago Capital LLC increased its stake in shares of Kornit Digital by 14.6% in the third quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock worth $31,392,000 after purchasing an additional 212,102 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Kornit Digital by 23.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock worth $28,092,000 after purchasing an additional 282,241 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Kornit Digital by 103.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock worth $18,273,000 after purchasing an additional 485,000 shares in the last quarter. 92.76% of the stock is currently 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.