Meros Investment Management LP Boosts Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Meros Investment Management LP increased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 39.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 231,584 shares of the industrial products company’s stock after acquiring an additional 65,302 shares during the period. Kornit Digital accounts for about 1.6% of Meros Investment Management LP’s holdings, making the stock its 28th biggest holding. Meros Investment Management LP’s holdings in Kornit Digital were worth $3,390,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KRNT. Stephens Investment Management Group LLC grew its position in shares of Kornit Digital by 23.8% in the fourth 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 purchasing an additional 282,241 shares during the period. Moody National Bank Trust Division boosted 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 buying an additional 3,162 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its stake in Kornit Digital by 1.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock worth $2,125,000 after buying an additional 1,550 shares in the last quarter. Thompson Investment Management Inc. raised its holdings 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. Finally, Wasatch Advisors LP lifted its position in shares of Kornit Digital by 6.7% in the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after acquiring an additional 114,372 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KRNT shares. StockNews.com upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a research note on Thursday, September 12th. Craig Hallum increased their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley boosted their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $25.18 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -20.64 and a beta of 1.90. The firm has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $16.85. Kornit Digital Ltd. has a one year low of $13.29 and a one year high of $25.36.

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

Kornit Digital 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.