LHM Inc. Invests $5.50 Million in Kornit Digital Ltd. (NASDAQ:KRNT)

LHM Inc. acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 375,691 shares of the industrial products company's stock, valued at approximately $5,500,000. Kornit Digital makes up 2.3% of LHM Inc.'s holdings, making the stock its 7th largest holding. LHM Inc. owned approximately 0.79% of Kornit Digital as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stephens Investment Management Group LLC increased its position in shares of Kornit Digital by 23.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company's stock valued at $28,092,000 after buying an additional 282,241 shares during the period. Moody National Bank Trust Division increased its holdings in Kornit Digital by 7.9% during the 1st quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company's stock worth $779,000 after acquiring an additional 3,162 shares during the period. Silverberg Bernstein Capital Management LLC lifted its stake in Kornit Digital by 1.3% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company's stock worth $2,125,000 after purchasing an additional 1,550 shares in the last quarter. Thompson Investment Management Inc. boosted its holdings in Kornit Digital by 13.6% in the 1st quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company's stock valued at $9,482,000 after purchasing an additional 62,607 shares during the period. Finally, Wasatch Advisors LP grew its position in shares of Kornit Digital by 6.7% during the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company's stock valued at $32,803,000 after purchasing an additional 114,372 shares in the last quarter. Institutional investors own 92.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Kornit Digital from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price target on shares of Kornit Digital in a report on Thursday, September 12th. Barclays boosted their price objective on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday. Craig Hallum raised their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley boosted their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.50.

Kornit Digital Stock Down 2.1 %

Shares of Kornit Digital stock traded down $0.55 during trading on Tuesday, hitting $25.28. 1,021,466 shares of the stock traded hands, compared to its average volume of 373,303. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -20.72 and a beta of 1.90. Kornit Digital Ltd. has a 52 week low of $13.29 and a 52 week high of $26.57. The firm's fifty day moving average is $19.37 and its 200-day moving average is $16.95.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $50.24 million. During the same period last year, the firm posted ($0.28) earnings per share. The business's revenue was down 13.5% compared to the same quarter last year. On average, analysts forecast that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

Kornit Digital Company 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.