Lisanti Capital Growth LLC bought a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 97,655 shares of the industrial products company's stock, valued at approximately $2,523,000. Lisanti Capital Growth LLC owned 0.21% of Kornit Digital at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Privium Fund Management B.V. boosted its position in shares of Kornit Digital by 8.8% in the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company's stock valued at $305,000 after purchasing an additional 950 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Kornit Digital during the 3rd quarter worth $934,000. Harbor Capital Advisors Inc. increased its holdings in Kornit Digital by 74.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 140,071 shares of the industrial products company's stock worth $3,619,000 after purchasing an additional 59,605 shares in the last quarter. Roubaix Capital LLC acquired a new position in Kornit Digital during the third quarter worth $2,635,000. Finally, Tectonic Advisors LLC acquired a new position in shares of Kornit Digital during the third quarter valued at about $705,000. 92.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on KRNT. StockNews.com raised Kornit Digital from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Needham & Company LLC upped their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley boosted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Finally, Barclays raised their price objective on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.
Get Our Latest Research Report on KRNT
Kornit Digital Stock Performance
Shares of NASDAQ:KRNT traded up $1.78 during midday trading on Monday, reaching $32.25. 349,491 shares of the company's stock traded hands, compared to its average volume of 369,766. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $32.40. The company has a market cap of $1.53 billion, a P/E ratio of -36.65 and a beta of 1.93. The company has a fifty day simple moving average of $23.86 and a two-hundred day simple moving average of $18.60.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Kornit Digital's revenue was down 14.3% compared to the same quarter last year. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.
Kornit Digital Company Profile
(
Free Report)
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.
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