Kornit Digital (NASDAQ:KRNT) Sets New 12-Month High at $24.34

Shares of Kornit Digital Ltd. (NASDAQ:KRNT) reached a new 52-week high during trading on Wednesday . The company traded as high as $24.34 and last traded at $23.97, with a volume of 172209 shares trading hands. The stock had previously closed at $23.68.

Analysts Set New Price Targets

A number of analysts recently weighed in 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. Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC reissued a “buy” rating and set a $27.00 price objective on shares of Kornit Digital in a research note on Thursday, September 12th. Finally, Craig Hallum upped their target price on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

Kornit Digital Trading Up 1.1 %

The company has a market capitalization of $1.14 billion, a P/E ratio of -19.41 and a beta of 1.90. The business’s fifty day moving average price is $17.68 and its 200-day moving average price is $16.51.

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

Institutional Trading of Kornit Digital

Several hedge funds have recently added to or reduced their stakes in KRNT. BNP Paribas Financial Markets lifted its position in Kornit Digital by 5,353.7% in the fourth quarter. BNP Paribas Financial Markets now owns 73,788 shares of the industrial products company’s stock valued at $1,414,000 after purchasing an additional 72,435 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in Kornit Digital by 23.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after buying an additional 282,241 shares during the period. Moody National Bank Trust Division grew its holdings in Kornit Digital by 7.9% in the 1st quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company’s stock worth $779,000 after acquiring an additional 3,162 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its position in shares of Kornit Digital by 1.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after acquiring an additional 1,550 shares during the period. Finally, Thompson Investment Management Inc. raised its stake in shares of Kornit Digital by 13.6% during the first quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company’s stock valued at $9,482,000 after acquiring an additional 62,607 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

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.