Tectonic Advisors LLC bought a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,275 shares of the industrial products company's stock, valued at approximately $705,000. Tectonic Advisors LLC owned 0.06% of Kornit Digital as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. LHM Inc. acquired a new stake in Kornit Digital in the second quarter valued at approximately $12,042,000. Chicago Capital LLC boosted its stake in Kornit Digital by 14.9% in the second quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company's stock valued at $41,835,000 after acquiring an additional 370,962 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Kornit Digital in the third quarter valued at approximately $6,962,000. Wasatch Advisors LP lifted its stake in shares of Kornit Digital by 6.7% during the first quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company's stock worth $32,803,000 after buying an additional 114,372 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Kornit Digital by 5.7% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company's stock worth $30,167,000 after buying an additional 111,971 shares during the period. 92.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on KRNT. Barclays lifted their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective 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. StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Craig Hallum lifted their price objective on shares of Kornit Digital from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Needham & Company LLC reissued a "buy" rating and set a $27.00 target price on shares of Kornit Digital in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.50.
Get Our Latest Stock Report on KRNT
Kornit Digital Stock Performance
Shares of Kornit Digital stock traded up $0.18 during trading on Friday, hitting $23.70. 589,838 shares of the company's stock were exchanged, compared to its average volume of 371,901. Kornit Digital Ltd. has a 52-week low of $13.29 and a 52-week high of $26.64. The business has a 50-day simple moving average of $22.63 and a 200-day simple moving average of $17.90. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -23.01 and a beta of 1.92.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The business had revenue of $48.62 million during the quarter, compared to analysts' expectations of $50.24 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The company's quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.28) earnings per share. On average, equities analysts anticipate that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.
Kornit Digital Company Profile
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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.
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