Telemark Asset Management LLC increased its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 400.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the industrial products company's stock after acquiring an additional 160,000 shares during the period. Telemark Asset Management LLC owned approximately 0.42% of Kornit Digital worth $6,190,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. HighTower Advisors LLC acquired a new stake in shares of Kornit Digital in the fourth quarter valued at $237,000. Lisanti Capital Growth LLC raised its stake in shares of Kornit Digital by 119.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company's stock valued at $6,618,000 after acquiring an additional 116,170 shares in the last quarter. LHM Inc. raised its stake in shares of Kornit Digital by 12.3% in the fourth quarter. LHM Inc. now owns 453,964 shares of the industrial products company's stock valued at $14,050,000 after acquiring an additional 49,755 shares in the last quarter. US Bancorp DE increased its holdings in Kornit Digital by 7.4% in the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock valued at $257,000 after buying an additional 572 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock valued at $117,000 after buying an additional 988 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently commented on KRNT. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Morgan Stanley increased their target price on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Finally, Needham & Company LLC increased their target price on Kornit Digital from $31.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.
Check Out Our Latest Stock Analysis on KRNT
Kornit Digital Stock Performance
Shares of KRNT stock opened at $21.34 on Thursday. The stock's 50-day moving average is $27.61 and its two-hundred day moving average is $27.09. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -60.97 and a beta of 2.12. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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.
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.
See Also
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