Harbor Capital Advisors Inc. Buys 59,605 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Harbor Capital Advisors Inc. raised its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 74.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,071 shares of the industrial products company's stock after buying an additional 59,605 shares during the period. Harbor Capital Advisors Inc. owned 0.29% of Kornit Digital worth $3,619,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC boosted its position in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company's stock worth $38,000 after buying an additional 1,027 shares during the period. nVerses Capital LLC acquired a new stake in Kornit Digital in the second quarter valued at $40,000. Signaturefd LLC raised its position in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock worth $50,000 after purchasing an additional 779 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Kornit Digital during the 2nd quarter worth about $159,000. Finally, Bank of New York Mellon Corp lifted its holdings in Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock worth $235,000 after buying an additional 1,184 shares during the period. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kornit Digital Stock Performance

Shares of KRNT stock traded down $0.04 during trading hours on Monday, hitting $22.99. 233,372 shares of the company were exchanged, compared to its average volume of 367,726. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $26.64. The company has a 50 day simple moving average of $23.01 and a two-hundred day simple moving average of $18.19. The firm has a market cap of $1.09 billion, a P/E ratio of -22.36 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $50.24 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The business's revenue was down 13.5% on a year-over-year basis. As a group, sell-side analysts expect that Kornit Digital Ltd. will post -0.28 EPS 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.