Hodges Capital Management Inc. Invests $3.59 Million in Kornit Digital Ltd. (NASDAQ:KRNT)

Hodges Capital Management Inc. purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund purchased 138,970 shares of the industrial products company's stock, valued at approximately $3,590,000. Hodges Capital Management Inc. owned about 0.29% of Kornit Digital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tectonic Advisors LLC bought a new stake in Kornit Digital during the third quarter valued at $705,000. Loomis Sayles & Co. L P bought a new stake in shares of Kornit Digital during the 3rd quarter valued at about $8,887,000. Principal Financial Group Inc. acquired a new stake in Kornit Digital during the third quarter worth about $934,000. Telemark Asset Management LLC bought a new position in Kornit Digital in the third quarter worth about $1,033,000. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Kornit Digital by 5.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company's stock valued at $30,167,000 after acquiring an additional 111,971 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of KRNT traded up $0.62 during trading hours on Friday, reaching $31.80. 179,379 shares of the company's stock traded hands, compared to its average volume of 301,522. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $33.00. The business's fifty day simple moving average is $27.61 and its two-hundred day simple moving average is $20.86. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -36.14 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.04. The company had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. Kornit Digital's revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. On average, equities research analysts expect that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Cantor Fitzgerald began coverage on Kornit Digital in a research report on Tuesday, November 26th. They set an "overweight" rating and a $39.00 price target on the stock. Craig Hallum increased their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley boosted their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, September 13th. Needham & Company LLC increased their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

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.