Tidal Investments LLC Acquires 1,651 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Tidal Investments LLC lifted its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,365 shares of the industrial products company’s stock after acquiring an additional 1,651 shares during the quarter. Tidal Investments LLC owned approximately 0.08% of Kornit Digital worth $965,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KRNT. nVerses Capital LLC bought a new position in Kornit Digital during the second quarter worth $40,000. Signaturefd LLC lifted its stake in shares of Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after buying an additional 779 shares during the last quarter. Privium Fund Management B.V. bought a new stake in shares of Kornit Digital during the 2nd quarter worth about $159,000. Bank of New York Mellon Corp grew its stake in Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 3,633 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of NASDAQ KRNT opened at $32.11 on Friday. The business has a fifty day moving average price of $28.87 and a two-hundred day moving average price of $21.88. The stock has a market capitalization of $1.53 billion, a PE ratio of -36.49 and a beta of 2.01. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.28.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, equities analysts expect that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

KRNT has been the subject of a number of research analyst reports. Cantor Fitzgerald assumed coverage on Kornit Digital in a report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Barclays boosted their price target on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Needham & Company LLC upped their price objective on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum lifted their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.40.

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.