Hodges Capital Management Inc. Sells 92,770 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Hodges Capital Management Inc. decreased its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 66.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,200 shares of the industrial products company's stock after selling 92,770 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.10% of Kornit Digital worth $1,429,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KRNT. Fifth Third Bancorp lifted 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. Signaturefd LLC lifted its holdings in Kornit Digital by 69.7% during the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company's stock worth $150,000 after purchasing an additional 2,390 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Kornit Digital by 26.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after purchasing an additional 3,633 shares in the last quarter. Privium Fund Management B.V. boosted its stake in 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 worth $305,000 after purchasing an additional 950 shares during the period. Finally, Trust Point Inc. increased its position in shares of Kornit Digital by 4.6% during the third quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company's stock valued at $462,000 after buying an additional 785 shares during the period. Hedge funds and other institutional investors own 92.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on KRNT. Cantor Fitzgerald began coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price objective for the company. Morgan Stanley raised their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Craig Hallum upped their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.40.

Kornit Digital Price Performance

NASDAQ KRNT traded down $0.42 during trading hours on Friday, reaching $28.97. 152,767 shares of the stock traded hands, compared to its average volume of 215,487. The stock has a 50 day simple moving average of $30.82 and a two-hundred day simple moving average of $25.62. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.28. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -32.92 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.04. The company had revenue of $50.73 million for the quarter, compared to analysts' expectations of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. On average, sell-side analysts forecast that Kornit Digital Ltd. will post -0.22 EPS for the current fiscal 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.