Kornit Digital (NASDAQ:KRNT) Shares Down 5.2% - Should You Sell?

Shares of Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) traded down 5.2% during trading on Friday . The stock traded as low as $28.00 and last traded at $27.64. 42,359 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 235,203 shares. The stock had previously closed at $29.15.

Analyst Upgrades and Downgrades

KRNT has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Needham & Company LLC upped their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $39.00 price target on shares of Kornit Digital in a research report on Thursday, February 13th. Finally, Craig Hallum lifted their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.00.

Kornit Digital Stock Performance

The company has a market cap of $1.23 billion, a price-to-earnings ratio of -29.38 and a beta of 2.02. The company's 50 day moving average price is $30.41 and its 200 day moving average price is $26.42.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results 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 21.00% and a negative return on equity of 2.17%. As a group, analysts predict that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Kornit Digital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P grew its holdings in shares of Kornit Digital by 259.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after purchasing an additional 893,463 shares during the last quarter. AQR Capital Management LLC bought a new stake in Kornit Digital during the 4th quarter worth about $14,769,000. Assenagon Asset Management S.A. increased its position in 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 acquiring an additional 380,392 shares in the last quarter. Artemis Investment Management LLP increased its position in 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 acquiring an additional 372,443 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in shares of Kornit Digital by 47.2% during the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock worth $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.