Kornit Digital (NASDAQ:KRNT) Sees Strong Trading Volume - Still a Buy?

Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 445,925 shares were traded during trading, an increase of 77% from the previous session's volume of 252,430 shares.The stock last traded at $25.78 and had previously closed at $27.60.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KRNT shares. Needham & Company LLC increased their price target on Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $39.00 price objective on shares of Kornit Digital in a research report on Thursday, February 13th. Finally, Craig Hallum increased their price objective on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Kornit Digital Stock Down 1.9 %

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -71.69 and a beta of 2.02. The business has a 50 day moving average of $30.03 and a 200 day moving average of $26.49.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Research analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Institutional Trading of Kornit Digital

A number of hedge funds have recently added to or reduced their stakes in KRNT. Loomis Sayles & Co. L P boosted its stake in Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after buying an additional 893,463 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Kornit Digital in the 4th quarter valued at about $14,769,000. Assenagon Asset Management S.A. lifted its stake in shares of Kornit Digital by 421.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company's stock valued at $14,567,000 after purchasing an additional 380,392 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Kornit Digital by 138.2% in the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company's stock valued at $19,867,000 after purchasing an additional 372,443 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Kornit Digital by 47.2% in the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock valued at $34,036,000 after purchasing an additional 352,648 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

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.