Kornit Digital Ltd. (NASDAQ:KRNT) Stock Position Increased by Meros Investment Management LP

Meros Investment Management LP increased its holdings in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 19.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,040 shares of the industrial products company's stock after buying an additional 44,456 shares during the period. Kornit Digital accounts for 3.2% of Meros Investment Management LP's holdings, making the stock its 9th largest position. Meros Investment Management LP owned 0.58% of Kornit Digital worth $7,131,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KRNT. LHM Inc. acquired a new stake in Kornit Digital during the second quarter worth about $12,042,000. Chicago Capital LLC boosted its position in shares of Kornit Digital by 14.9% during the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company's stock worth $41,835,000 after acquiring an additional 370,962 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Kornit Digital in the third quarter valued at approximately $8,887,000. Artemis Investment Management LLP bought a new position in Kornit Digital in the third quarter valued at approximately $6,962,000. Finally, Polar Asset Management Partners Inc. raised its position in Kornit Digital by 35.7% during the third quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company's stock valued at $16,045,000 after purchasing an additional 163,543 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Price Performance

Shares of Kornit Digital stock traded up $0.57 during trading on Wednesday, reaching $32.16. 190,768 shares of the company traded hands, compared to its average volume of 362,934. The firm has a market capitalization of $1.53 billion, a PE ratio of -36.55 and a beta of 2.01. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $33.31. The company has a 50 day moving average price of $27.86 and a 200-day moving average price of $21.10.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The business 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%. The business's revenue was down 14.3% on a year-over-year basis. During the same period last year, the business earned ($0.17) EPS. Equities research analysts expect that Kornit Digital Ltd. will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on KRNT. Needham & Company LLC lifted their price target on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays lifted their target price on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. Craig Hallum increased their target price 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. Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They set an "overweight" rating and a $39.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.