Telemark Asset Management LLC acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the industrial products company's stock, valued at approximately $1,033,000. Telemark Asset Management LLC owned 0.08% of Kornit Digital at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of KRNT. nVerses Capital LLC bought a new position in Kornit Digital during the 2nd quarter valued at approximately $40,000. Signaturefd LLC lifted its stake in Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock worth $50,000 after acquiring an additional 779 shares during the period. Privium Fund Management B.V. purchased a new stake in Kornit Digital in the second quarter worth $159,000. Bank of New York Mellon Corp boosted its holdings in Kornit Digital by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock valued at $235,000 after acquiring an additional 1,184 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in Kornit Digital by 26.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 3,633 shares during the period. 92.76% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on KRNT. StockNews.com upgraded Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Barclays upped their price target on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 1st. Needham & Company LLC boosted their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Finally, Craig Hallum lifted their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Kornit Digital presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.
Check Out Our Latest Analysis on KRNT
Kornit Digital Stock Performance
Shares of KRNT traded up $0.02 during trading hours on Friday, hitting $31.34. The company had a trading volume of 247,043 shares, compared to its average volume of 368,485. The firm has a fifty day moving average price of $25.99 and a 200-day moving average price of $19.55. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -35.63 and a beta of 1.93. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $33.00.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital's revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.
Kornit Digital Profile
(
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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