Icon Advisers Inc. Co. Takes $6.19 Million Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Icon Advisers Inc. Co. bought a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 200,000 shares of the industrial products company's stock, valued at approximately $6,190,000. Kornit Digital comprises approximately 1.4% of Icon Advisers Inc. Co.'s portfolio, making the stock its 11th largest holding. Icon Advisers Inc. Co. owned approximately 0.42% of Kornit Digital at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in KRNT. Fifth Third Bancorp increased its position in shares of Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after acquiring an additional 393 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock worth $64,000 after purchasing an additional 1,800 shares during the period. Parkside Financial Bank & Trust increased its holdings in Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after purchasing an additional 988 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Kornit Digital in the fourth quarter valued at about $203,000. Finally, HighTower Advisors LLC acquired a new position in shares of Kornit Digital during the fourth quarter worth about $237,000. Institutional investors and hedge funds own 92.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRNT. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC lowered their price objective on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

Kornit Digital Trading Down 3.7 %

Shares of NASDAQ:KRNT traded down $0.70 during trading on Friday, hitting $18.40. 183,886 shares of the company were exchanged, compared to its average volume of 294,845. The stock has a market cap of $874.96 million, a price-to-earnings ratio of -52.57 and a beta of 2.08. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The firm has a fifty day moving average price of $21.59 and a two-hundred day moving average price of $26.54.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current year.

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.