Kornit Digital (NASDAQ:KRNT) Cut to Sell at StockNews.com

StockNews.com lowered shares of Kornit Digital (NASDAQ:KRNT) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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

Kornit Digital Price Performance

KRNT stock opened at $14.71 on Wednesday. Kornit Digital has a 12 month low of $13.29 and a 12 month high of $29.90. The firm has a 50 day moving average of $14.97 and a two-hundred day moving average of $16.21.

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

Hedge Funds Weigh In On Kornit Digital

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC raised its stake in shares of Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,027 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Kornit Digital in the 2nd quarter valued at $40,000. Signaturefd LLC raised its stake in shares of Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after buying an additional 779 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Kornit Digital by 402.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock valued at $111,000 after buying an additional 4,642 shares in the last quarter. Finally, Privium Fund Management B.V. acquired a new position in shares of Kornit Digital in the 2nd quarter valued at $159,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

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 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.