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

Kornit Digital (NASDAQ:KRNT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Kornit Digital in a research note on Thursday, May 9th.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $14.64 on Friday. Kornit Digital has a 1 year low of $13.29 and a 1 year high of $31.94. The firm has a market capitalization of $698.91 million, a price-to-earnings ratio of -12.00 and a beta of 1.90. The business’s 50 day moving average price is $15.06 and its 200-day moving average price is $16.73.

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

Institutional Trading of Kornit Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC grew its holdings in shares of Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Kornit Digital by 402.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 4,642 shares during the period. Anchor Investment Management LLC purchased a new position in shares of Kornit Digital during the 4th quarter worth $140,000. Van ECK Associates Corp grew its holdings in shares of Kornit Digital by 12.4% during the 4th quarter. Van ECK Associates Corp now owns 13,099 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 1,441 shares during the period. Finally, Trust Point Inc. purchased a new position in shares of Kornit Digital during the 4th quarter worth $271,000. 92.76% of the stock is owned by institutional investors and hedge funds.

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.