Roubaix Capital LLC acquired a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 102,012 shares of the industrial products company's stock, valued at approximately $2,635,000. Roubaix Capital LLC owned about 0.21% of Kornit Digital at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of KRNT. Oppenheimer Asset Management Inc. grew its stake in shares of Kornit Digital by 13.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 39,515 shares of the industrial products company's stock worth $716,000 after acquiring an additional 4,725 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Kornit Digital by 97.9% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company's stock worth $38,000 after acquiring an additional 1,027 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Kornit Digital by 4.0% in the first quarter. William Blair Investment Management LLC now owns 931,706 shares of the industrial products company's stock worth $16,883,000 after acquiring an additional 35,930 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Kornit Digital by 26.6% in the first quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company's stock worth $1,732,000 after acquiring an additional 20,067 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Kornit Digital by 9.9% in the first quarter. California State Teachers Retirement System now owns 55,682 shares of the industrial products company's stock worth $1,009,000 after acquiring an additional 5,005 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.
Kornit Digital Stock Performance
Shares of NASDAQ:KRNT traded down $0.74 on Thursday, hitting $22.89. The stock had a trading volume of 183,996 shares, compared to its average volume of 368,592. Kornit Digital Ltd. has a twelve month low of $13.51 and a twelve month high of $26.64. The firm's 50 day moving average price is $22.88 and its 200-day moving average price is $18.07. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -19.37 and a beta of 1.92.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating 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 company had revenue of $48.62 million for the quarter, compared to the consensus estimate of $50.24 million. During the same quarter in the previous year, the company earned ($0.28) EPS. The firm's revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, sell-side analysts predict that Kornit Digital Ltd. will post -0.28 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on KRNT shares. StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a "buy" rating and set a $27.00 price target on shares of Kornit Digital in a research note on Thursday, September 12th. Craig Hallum lifted their price target 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. Morgan Stanley lifted 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. Finally, Barclays lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Kornit Digital has a consensus rating of "Moderate Buy" and an average target price of $26.50.
View Our Latest Report on KRNT
About Kornit Digital
(
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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