Kornit Digital (NASDAQ:KRNT) Reaches New 12-Month High – What’s Next?

Kornit Digital Ltd. (NASDAQ:KRNT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $27.45 and last traded at $27.42, with a volume of 990 shares trading hands. The stock had previously closed at $24.23.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $27.00 price objective on shares of Kornit Digital in a research note on Thursday, September 12th. Barclays raised their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Morgan Stanley boosted their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Craig Hallum raised their price target on Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Kornit Digital Stock Performance

The company has a fifty day moving average of $23.17 and a two-hundred day moving average of $18.30. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -27.67 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The company had revenue of $48.62 million during the quarter, compared to the consensus estimate of $50.24 million. During the same quarter last year, the firm earned ($0.28) earnings per share. The company’s revenue was down 13.5% on a year-over-year basis. Equities analysts forecast that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Institutional Trading of Kornit Digital

Institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC acquired a new stake in shares of Kornit Digital in the third quarter valued at approximately $2,523,000. Privium Fund Management B.V. increased its stake in Kornit Digital by 8.8% during the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 950 shares during the period. Principal Financial Group Inc. acquired a new position in Kornit Digital in the 3rd quarter valued at $934,000. Harbor Capital Advisors Inc. raised its holdings in Kornit Digital by 74.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 140,071 shares of the industrial products company’s stock valued at $3,619,000 after acquiring an additional 59,605 shares in the last quarter. Finally, Roubaix Capital LLC bought a new stake in shares of Kornit Digital during the 3rd quarter valued at $2,635,000. Institutional investors own 92.76% of the company’s stock.

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.